GAMMA Investing LLC Grows Stock Position in Trane Technologies plc (NYSE:TT)

GAMMA Investing LLC grew its position in Trane Technologies plc (NYSE:TT) by 35,458.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,015,792 shares of the company’s stock after buying an additional 2,010,123 shares during the quarter. GAMMA Investing LLC’s holdings in Trane Technologies were worth $679,161,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TT. Secured Retirement Advisors LLC raised its stake in Trane Technologies by 0.6% during the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock valued at $1,709,000 after acquiring an additional 28 shares during the last quarter. Catalina Capital Group LLC raised its stake in Trane Technologies by 3.2% during the 4th quarter. Catalina Capital Group LLC now owns 924 shares of the company’s stock valued at $341,000 after acquiring an additional 29 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in Trane Technologies by 0.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company’s stock valued at $2,046,000 after acquiring an additional 29 shares during the last quarter. Kanawha Capital Management LLC raised its stake in Trane Technologies by 0.6% during the 4th quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company’s stock valued at $1,740,000 after acquiring an additional 29 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its stake in Trane Technologies by 0.3% during the 4th quarter. Kestra Private Wealth Services LLC now owns 9,173 shares of the company’s stock valued at $3,388,000 after acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the transaction, the insider now owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Stock Performance

NYSE TT opened at $432.11 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The business has a 50 day moving average price of $372.67 and a 200 day moving average price of $375.90. The company has a market capitalization of $96.37 billion, a P/E ratio of 38.41, a PEG ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $436.61.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.25. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Trane Technologies’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.94 earnings per share. Sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s payout ratio is 31.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TT shares. Stephens raised Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price for the company in a research note on Thursday, May 1st. HSBC raised Trane Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $405.00 to $415.00 in a research note on Friday, April 25th. Wells Fargo & Company increased their target price on Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a research note on Thursday, May 1st. UBS Group increased their target price on Trane Technologies from $470.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Finally, Hsbc Global Res raised Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $427.47.

About Trane Technologies

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.