Night Squared LP Buys Shares of 17,186 Trane Technologies plc $TT

Night Squared LP bought a new position in shares of Trane Technologies plc (NYSE:TT) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 17,186 shares of the company’s stock, valued at approximately $7,252,000. Trane Technologies comprises 2.6% of Night Squared LP’s holdings, making the stock its 11th largest holding.

Several other institutional investors also recently modified their holdings of TT. Icon Advisers Inc. Co. acquired a new stake in shares of Trane Technologies in the 2nd quarter valued at approximately $26,000. Financial Consulate Inc. bought a new position in Trane Technologies during the 3rd quarter worth approximately $25,000. United Community Bank grew its holdings in Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after purchasing an additional 43 shares during the period. Halbert Hargrove Global Advisors LLC increased its stake in Trane Technologies by 34.2% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after purchasing an additional 26 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in Trane Technologies by 58.2% in the third quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock worth $45,000 after purchasing an additional 39 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TT. Wells Fargo & Company lifted their price target on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. Oppenheimer raised their price objective on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a report on Monday, December 15th. Barclays increased their price target on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, UBS Group dropped their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Moderate Buy” and an average price target of $484.67.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,762 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the completion of the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at $1,614,291.30. This trade represents a 49.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Elizabeth A. Elwell sold 635 shares of Trane Technologies stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the sale, the chief accounting officer owned 7,100 shares in the company, valued at $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 49,378 shares of company stock worth $21,228,464 in the last 90 days. 0.14% of the stock is owned by corporate insiders.

Trane Technologies Trading Up 0.2%

TT opened at $422.66 on Friday. The stock has a market capitalization of $93.55 billion, a P/E ratio of 32.56, a P/E/G ratio of 2.22 and a beta of 1.19. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $479.37. The firm’s fifty day simple moving average is $426.27 and its 200 day simple moving average is $417.25.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the prior year, the company earned $2.61 EPS. The company’s revenue was up 5.6% on a year-over-year basis. As a group, research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, March 6th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio is 32.36%.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.