Diversified LLC Takes $356,000 Position in Trane Technologies plc (NYSE:TT)

Diversified LLC acquired a new stake in shares of Trane Technologies plc (NYSE:TT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,082 shares of the company’s stock, valued at approximately $356,000.

Several other hedge funds have also added to or reduced their stakes in the stock. My Legacy Advisors LLC bought a new stake in shares of Trane Technologies during the second quarter valued at approximately $1,996,000. &PARTNERS raised its stake in shares of Trane Technologies by 67.2% in the second quarter. &PARTNERS now owns 1,654 shares of the company’s stock worth $544,000 after purchasing an additional 665 shares during the last quarter. Vinland Capital Management Gestora de Recursos LTDA. lifted its holdings in shares of Trane Technologies by 28.2% during the second quarter. Vinland Capital Management Gestora de Recursos LTDA. now owns 6,530 shares of the company’s stock valued at $2,148,000 after purchasing an additional 1,435 shares in the last quarter. KG&L Capital Management LLC purchased a new stake in shares of Trane Technologies during the second quarter valued at $214,000. Finally, Fifth Third Wealth Advisors LLC increased its holdings in Trane Technologies by 49.8% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 6,785 shares of the company’s stock worth $2,232,000 after buying an additional 2,256 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,243 shares of company stock worth $14,216,550. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Stephens reiterated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Mizuho increased their price target on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. upped their price objective on Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group raised their target price on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, UBS Group increased their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $323.29.

Trane Technologies Price Performance

Shares of NYSE TT traded up $2.20 during mid-day trading on Friday, reaching $352.91. The company’s stock had a trading volume of 871,002 shares, compared to its average volume of 1,121,324. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.74. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $355.02. The stock has a fifty day moving average of $335.48 and a two-hundred day moving average of $314.22. The firm has a market capitalization of $79.88 billion, a PE ratio of 37.70, a P/E/G ratio of 2.50 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter last year, the business posted $2.68 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Trane Technologies plc will post 10.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $0.84 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.95%. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

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.