Nebula Research & Development LLC Buys New Stake in Trane Technologies plc (NYSE:TT)

Nebula Research & Development LLC bought a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,424 shares of the company's stock, valued at approximately $2,373,000.

Other hedge funds have also recently bought and sold shares of the company. Global Wealth Strategies & Associates acquired a new position in Trane Technologies during the fourth quarter worth about $26,000. Sound Income Strategies LLC grew its holdings in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after acquiring an additional 92 shares during the period. Flagship Wealth Advisors LLC purchased a new position in Trane Technologies in the 4th quarter worth about $37,000. Golden State Wealth Management LLC purchased a new position in Trane Technologies in the 4th quarter worth about $39,000. Finally, BankPlus Trust Department purchased a new position in Trane Technologies in the 4th quarter worth about $45,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Christopher J. Kuehn sold 770 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the transaction, the chief financial officer now directly owns 62,221 shares in the company, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO David S. Regnery sold 2,754 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now 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. In the last 90 days, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Stock Up 1.0 %

TT stock traded up $3.41 during midday trading on Monday, reaching $351.38. The company had a trading volume of 2,268,693 shares, compared to its average volume of 1,314,231. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $78.81 billion, a P/E ratio of 31.23, a PEG ratio of 2.50 and a beta of 1.08. The company has a 50 day moving average of $342.38 and a two-hundred day moving average of $372.67.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. On average, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued 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 1.07%. Trane Technologies's dividend payout ratio is currently 33.42%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TT. Barclays dropped their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. JPMorgan Chase & Co. dropped their price target on Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. UBS Group dropped their price target on Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Melius Research reissued a "hold" rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada lifted their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $405.94.

About Trane Technologies

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.