Tidal Investments LLC Has $6.15 Million Holdings in Trane Technologies plc (NYSE:TT)

Tidal Investments LLC increased its position in Trane Technologies plc (NYSE:TT) by 22.2% in the third quarter, HoldingsChannel reports. The firm owned 15,827 shares of the company’s stock after acquiring an additional 2,874 shares during the period. Tidal Investments LLC’s holdings in Trane Technologies were worth $6,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Trane Technologies by 6.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,515 shares of the company’s stock valued at $3,459,000 after purchasing an additional 595 shares during the period. Triad Wealth Partners LLC purchased a new stake in shares of Trane Technologies during the 2nd quarter worth about $39,000. Blue Trust Inc. lifted its holdings in shares of Trane Technologies by 34.5% during the 2nd quarter. Blue Trust Inc. now owns 2,549 shares of the company’s stock valued at $765,000 after buying an additional 654 shares during the last quarter. Gradient Investments LLC grew its stake in shares of Trane Technologies by 7,988.0% in the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock valued at $665,000 after buying an additional 1,997 shares in the last quarter. Finally, Everpar Advisors LLC increased its holdings in Trane Technologies by 8.5% in the second quarter. Everpar Advisors LLC now owns 1,386 shares of the company’s stock worth $456,000 after buying an additional 108 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the transaction, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Robert W. Baird reduced their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. UBS Group assumed coverage on Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price on the stock. Northcoast Research began coverage on Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 price target for the company. Finally, Barclays increased their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $409.93.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $399.54 on Friday. Trane Technologies plc has a 12 month low of $233.76 and a 12 month high of $422.00. The company has a market cap of $89.91 billion, a P/E ratio of 37.06, a P/E/G ratio of 2.43 and a beta of 1.03. The business’s 50 day moving average is $402.05 and its two-hundred day moving average is $364.28. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the previous year, the firm posted $2.79 earnings per share. Trane Technologies’s revenue was up 10.0% compared to the same quarter last year. On average, equities analysts expect that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is presently 31.17%.

Trane Technologies Company Profile

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.