SpiderRock Advisors LLC Grows Stock Holdings in Trane Technologies plc (NYSE:TT)

SpiderRock Advisors LLC lifted its position in Trane Technologies plc (NYSE:TT) by 9.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,795 shares of the company’s stock after buying an additional 496 shares during the quarter. SpiderRock Advisors LLC’s holdings in Trane Technologies were worth $2,253,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. DT Investment Partners LLC purchased a new stake in shares of Trane Technologies during the 3rd quarter worth $36,000. Fortitude Family Office LLC lifted its holdings in Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after buying an additional 43 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in shares of Trane Technologies during the 2nd quarter worth about $39,000. Quarry LP purchased a new position in shares of Trane Technologies in the 2nd quarter valued at about $39,000. Finally, Pittenger & Anderson Inc. acquired a new stake in shares of Trane Technologies during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT traded up $0.68 on Monday, hitting $376.83. The company’s stock had a trading volume of 261,994 shares, compared to its average volume of 1,102,467. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.84. The stock has a 50 day moving average of $377.83 and a 200-day moving average of $346.08. Trane Technologies plc has a 12-month low of $214.35 and a 12-month high of $406.96. The company has a market capitalization of $84.79 billion, a price-to-earnings ratio of 34.89, a price-to-earnings-growth ratio of 2.51 and a beta of 1.02.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.79 EPS. As a group, research analysts predict that Trane Technologies plc will post 11.06 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. Trane Technologies’s payout ratio is 31.17%.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TT. Stephens reissued an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. Morgan Stanley initiated coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Wells Fargo & Company boosted their price objective on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, The Goldman Sachs Group raised their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $380.15.

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.