ClearAlpha Technologies LP Takes Position in Trane Technologies plc $TT

ClearAlpha Technologies LP purchased a new stake in Trane Technologies plc (NYSE:TT) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 3,842 shares of the company’s stock, valued at approximately $1,495,000. Trane Technologies accounts for approximately 4.3% of ClearAlpha Technologies LP’s holdings, making the stock its 5th biggest holding.

Several other large investors have also modified their holdings of TT. Norges Bank bought a new stake in shares of Trane Technologies in the 4th quarter valued at about $1,163,124,000. Capital International Investors bought a new stake in shares of Trane Technologies in the 4th quarter valued at about $324,639,000. Corient Private Wealth LLC raised its holdings in shares of Trane Technologies by 135.4% in the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock valued at $321,757,000 after purchasing an additional 423,090 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Trane Technologies by 13,460.8% in the 4th quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock valued at $164,828,000 after purchasing an additional 420,381 shares in the last quarter. Finally, Capital Research Global Investors bought a new stake in shares of Trane Technologies in the 4th quarter valued at about $132,124,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.6%

Shares of TT stock opened at $472.61 on Thursday. The firm has a market capitalization of $104.47 billion, a PE ratio of 36.55, a P/E/G ratio of 2.19 and a beta of 1.20. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47. The stock’s 50-day simple moving average is $466.16 and its 200-day simple moving average is $434.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.45 earnings per share. Equities analysts expect that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is presently 32.48%.

Analyst Ratings Changes

Several research analysts recently commented on TT shares. KeyCorp boosted their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Citigroup boosted their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Evercore started coverage on shares of Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective for the company. Finally, Royal Bank Of Canada boosted their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Moderate Buy” and an average price target of $509.12.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Trane Technologies Company 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.