SteelPeak Wealth LLC Takes $835,000 Position in Trane Technologies plc (NYSE:TT)

SteelPeak Wealth LLC purchased a new stake in shares of Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,147 shares of the company’s stock, valued at approximately $835,000.

Other institutional investors have also made changes to their positions in the company. BOK Financial Private Wealth Inc. acquired a new stake in Trane Technologies in the 1st quarter worth approximately $30,000. DT Investment Partners LLC acquired a new stake in Trane Technologies in the 3rd quarter worth approximately $36,000. Fortitude Family Office LLC lifted its holdings in Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in Trane Technologies in the 2nd quarter worth approximately $39,000. Finally, Quarry LP acquired a new stake in Trane Technologies in the 2nd quarter worth approximately $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $375.52 on Thursday. The business’s fifty day moving average price is $376.97 and its two-hundred day moving average price is $344.61. Trane Technologies plc has a fifty-two week low of $186.24 and a fifty-two week high of $406.96. The stock has a market capitalization of $85.00 billion, a price-to-earnings ratio of 40.12, a price-to-earnings-growth ratio of 2.70 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the prior year, the business posted $2.68 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts predict that Trane Technologies plc will post 10.89 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

TT has been the subject of several analyst reports. Stephens restated an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Mizuho upped their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Morgan Stanley began coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target for the company. Barclays upped their price target on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $373.58.

Trane Technologies 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.