Bearing Point Capital LLC Grows Position in Trane Technologies plc $TT

Bearing Point Capital LLC boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 12.3% during the 4th quarter, Holdings Channel reports. The firm owned 16,983 shares of the company’s stock after acquiring an additional 1,862 shares during the quarter. Bearing Point Capital LLC’s holdings in Trane Technologies were worth $6,610,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Aptus Capital Advisors LLC boosted its holdings in shares of Trane Technologies by 169.8% in the 3rd quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock valued at $6,219,000 after acquiring an additional 9,276 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Trane Technologies by 2.9% in the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock valued at $1,010,419,000 after acquiring an additional 72,998 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Trane Technologies by 64.0% in the 4th quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock valued at $2,911,000 after acquiring an additional 2,917 shares during the last quarter. Varma Mutual Pension Insurance Co boosted its holdings in shares of Trane Technologies by 9.0% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 43,811 shares of the company’s stock valued at $18,486,000 after acquiring an additional 3,600 shares during the last quarter. Finally, Dara Capital US Inc. acquired a new position in shares of Trane Technologies in the 4th quarter valued at $966,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

Shares of NYSE TT opened at $451.68 on Friday. The firm has a 50-day simple moving average of $455.43 and a 200-day simple moving average of $430.04. The stock has a market capitalization of $99.84 billion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 2.08 and a beta of 1.25. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47.

Trane Technologies (NYSE:TT) last issued its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.45 earnings per share. On average, equities analysts predict that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies’s dividend payout ratio is 32.48%.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 36,045 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the sale, the chief executive officer directly owned 96,948 shares in the company, valued at $40,978,950.12. This represents a 27.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Elizabeth A. Elwell sold 635 shares of the company’s stock in a transaction dated 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 directly owned 7,100 shares of the company’s stock, valued at $3,001,170. This represents a 8.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,654 shares of company stock valued at $23,269,523 over the last ninety days. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TT. KeyCorp boosted their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Royal Bank Of Canada boosted their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Citigroup boosted their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the company 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. Finally, BNP Paribas Exane assumed coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Trane Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $506.56.

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.