Renaissance Technologies LLC Takes Position in Trane Technologies plc (NYSE:TT)

Renaissance Technologies LLC bought a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 36,268 shares of the company's stock, valued at approximately $13,396,000.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its position in Trane Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock worth $7,104,658,000 after buying an additional 152,353 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock worth $1,760,549,000 after buying an additional 136,349 shares in the last quarter. Norges Bank purchased a new stake in Trane Technologies during the fourth quarter valued at approximately $1,117,816,000. Raymond James Financial Inc. bought a new position in shares of Trane Technologies during the 4th quarter valued at approximately $611,322,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Trane Technologies by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,248,083 shares of the company's stock worth $460,980,000 after acquiring an additional 21,678 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now owns 13,401 shares of the company's stock, valued at $4,792,331.61. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 2,754 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,234 shares of company stock valued at $2,588,102. Corporate insiders own 0.38% of the company's stock.

Trane Technologies Stock Up 0.8 %

Shares of NYSE TT traded up $2.69 during mid-day trading on Friday, reaching $333.33. The company had a trading volume of 2,243,922 shares, compared to its average volume of 1,300,415. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The company has a market capitalization of $74.76 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.50 and a beta of 1.08. The stock has a fifty day moving average of $344.98 and a two-hundred day moving average of $374.84.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.13%. Trane Technologies's dividend payout ratio (DPR) is presently 33.42%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TT. UBS Group dropped their target price on Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. cut their price target on Trane Technologies from $396.00 to $323.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company decreased their price target on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada raised their target price on Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a report on Friday, January 3rd. Finally, Melius Research reiterated a "hold" rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $405.31.

Trane Technologies Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.