Regents Gate Capital LLP Makes New Investment in Trane Technologies plc (NYSE:TT)

Regents Gate Capital LLP purchased a new stake in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 27,442 shares of the company’s stock, valued at approximately $10,136,000. Trane Technologies comprises 4.0% of Regents Gate Capital LLP’s holdings, making the stock its 7th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its position in shares of Trane Technologies by 22.2% during the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after purchasing an additional 2,874 shares in the last quarter. Synovus Financial Corp raised its position in Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after purchasing an additional 1,271 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Trane Technologies during the 4th quarter worth $468,000. HB Wealth Management LLC boosted its position in Trane Technologies by 14.3% in the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after buying an additional 711 shares during the last quarter. Finally, GDS Wealth Management increased its stake in shares of Trane Technologies by 4.3% in the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after buying an additional 2,124 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TT shares. Royal Bank of Canada raised their price target on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Barclays raised their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. UBS Group cut their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Wells Fargo & Company lowered their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their price target on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus target price of $415.25.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the sale, the chief financial officer now owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,157 shares of company stock valued at $3,168,885. 0.38% of the stock is owned by insiders.

Trane Technologies Price Performance

NYSE TT opened at $356.07 on Monday. 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 stock has a market cap of $80.12 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 2.44 and a beta of 1.05. The business has a 50 day simple moving average of $383.65 and a 200 day simple moving average of $377.31. Trane Technologies plc has a 52-week low of $265.37 and a 52-week high of $422.00.

Trane Technologies (NYSE:TT) last issued 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 net margin of 12.94% and a return on equity of 35.37%. Analysts anticipate 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. Investors of record on Friday, March 7th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.06%. Trane Technologies’s dividend payout ratio (DPR) is presently 29.87%.

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.