Rit Capital Partners PLC Takes Position in Trane Technologies plc $TT

Rit Capital Partners PLC bought a new position in Trane Technologies plc (NYSE:TT) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 52,100 shares of the company’s stock, valued at approximately $21,715,000. Trane Technologies comprises 5.8% of Rit Capital Partners PLC’s holdings, making the stock its 9th biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Trane Technologies by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock worth $7,791,909,000 after purchasing an additional 192,270 shares in the last quarter. State Street Corp grew its stake in shares of Trane Technologies by 0.6% during the 4th quarter. State Street Corp now owns 10,113,123 shares of the company’s stock worth $3,936,034,000 after purchasing an additional 61,393 shares during the period. Geode Capital Management LLC increased its holdings in shares of Trane Technologies by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock valued at $1,964,896,000 after purchasing an additional 14,179 shares in the last quarter. Norges Bank purchased a new position in shares of Trane Technologies during the 4th quarter valued at approximately $1,163,124,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Trane Technologies by 0.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,340,219 shares of the company’s stock valued at $910,813,000 after purchasing an additional 7,537 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $470.42 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The firm has a market capitalization of $103.99 billion, a PE ratio of 36.38, a P/E/G ratio of 2.15 and a beta of 1.19. The business’s 50 day moving average price is $469.78 and its 200-day moving average price is $448.47.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.45 EPS. As a group, equities research analysts expect that Trane Technologies plc will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared 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. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is currently 32.48%.

Wall Street Analyst Weigh In

Several analysts recently commented on TT shares. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Friday. Royal Bank Of Canada upped 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 report on Friday, May 1st. Citigroup increased their target price 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. Barclays raised their target price on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their price target on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $516.67.

Insiders Place Their Bets

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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

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.