Twin Tree Management LP Takes $424,000 Position in Trane Technologies plc (NYSE:TT)

Twin Tree Management LP acquired a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,149 shares of the company's stock, valued at approximately $424,000.

A number of other hedge funds have also recently bought and sold shares of the business. Global Wealth Strategies & Associates acquired a new position in shares of Trane Technologies in the 4th quarter worth approximately $26,000. Sound Income Strategies LLC grew its position in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after acquiring an additional 92 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Trane Technologies in the 4th quarter worth approximately $39,000. Legacy Investment Solutions LLC acquired a new position in shares of Trane Technologies in the 3rd quarter worth approximately $44,000. Finally, BankPlus Trust Department acquired a new position in shares of Trane Technologies in the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Melius lowered Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a research report on Tuesday, January 28th. Barclays reduced their price objective on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $387.00 to $396.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Royal Bank of Canada boosted their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research report on Friday, January 3rd. Finally, Citigroup reduced their price objective on Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $413.69.

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Trane Technologies Price Performance

Shares of TT traded down $2.03 during midday trading on Friday, reaching $347.30. The stock had a trading volume of 1,712,153 shares, compared to its average volume of 1,166,105. Trane Technologies plc has a 52 week low of $286.32 and a 52 week high of $422.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The firm's 50 day moving average price is $361.24 and its 200-day moving average price is $379.75. The company has a market capitalization of $77.90 billion, a P/E ratio of 30.87, a P/E/G ratio of 2.50 and a beta of 1.08.

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

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Friday, March 7th. This is an increase from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's payout ratio is currently 33.42%.

Insider Transactions at Trane Technologies

In other news, SVP Evan M. Turtz sold 318 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now directly owns 20,513 shares of the company's stock, valued at $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Regnery sold 2,754 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This trade represents 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 valued at $2,588,102. Corporate insiders own 0.38% of the company's stock.

Trane Technologies Company 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.