Regents Gate Capital LLP Takes Position in Trane Technologies plc $TT

Regents Gate Capital LLP bought a new position in shares of Trane Technologies plc (NYSE:TT) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 32,730 shares of the company’s stock, valued at approximately $13,640,000. Trane Technologies makes up about 2.9% of Regents Gate Capital LLP’s portfolio, making the stock its 16th largest position.

Several other large investors have also added to or reduced their stakes in the business. Tucker Asset Management LLC acquired a new position in Trane Technologies during the 4th quarter valued at about $25,000. JPL Wealth Management LLC purchased a new stake in shares of Trane Technologies in the third quarter worth approximately $32,000. Physician Wealth Advisors Inc. raised its stake in shares of Trane Technologies by 192.6% in the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in shares of Trane Technologies in the first quarter valued at approximately $33,000. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of Trane Technologies during the fourth quarter valued at approximately $32,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TT shares. BNP Paribas Exane initiated coverage on Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target for the company. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Royal Bank Of Canada increased their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Finally, Sanford C. Bernstein set a $555.00 price target on shares of Trane Technologies in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $516.67.

Trane Technologies Stock Performance

TT stock opened at $469.59 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The firm has a market cap of $103.80 billion, a PE ratio of 36.32, a P/E/G ratio of 2.16 and a beta of 1.19. The business has a 50 day moving average of $469.88 and a 200-day moving average of $446.98. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same period last year, the company posted $2.45 earnings per share. Trane Technologies’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts expect that Trane Technologies plc will post 14.89 earnings per share for the current year.

Trane Technologies Dividend Announcement

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

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. The trade was a 54.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by insiders.

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.