nVerses Capital LLC Acquires Shares of 2,600 Trane Technologies plc (NYSE:TT)

nVerses Capital LLC bought a new position in shares of Trane Technologies plc (NYSE:TT) during the third quarter, Holdings Channel.com reports. The firm bought 2,600 shares of the company’s stock, valued at approximately $1,011,000.

Other hedge funds have also modified their holdings of the company. First Pacific Financial increased its position in Trane Technologies by 1.1% in the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after purchasing an additional 28 shares during the period. PFG Private Wealth Management LLC raised its stake in shares of Trane Technologies by 4.7% during the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after buying an additional 32 shares during the last quarter. Bell Investment Advisors Inc raised its stake in shares of Trane Technologies by 26.5% during the second quarter. Bell Investment Advisors Inc now owns 167 shares of the company’s stock worth $55,000 after buying an additional 35 shares during the last quarter. Procyon Advisors LLC lifted its holdings in Trane Technologies by 4.0% in the third quarter. Procyon Advisors LLC now owns 927 shares of the company’s stock valued at $360,000 after buying an additional 36 shares during the period. Finally, Muirfield Wealth Advisors LLC grew its holdings in Trane Technologies by 4.1% during the 2nd quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock worth $309,000 after acquiring an additional 37 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. 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

A number of research analysts have recently weighed in on the company. Morgan Stanley began coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. Barclays raised their target price on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada upped their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Robert W. Baird lifted their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company upped their target price 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. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus target price of $373.58.

Trane Technologies Stock Up 1.0 %

Shares of Trane Technologies stock traded up $3.84 on Thursday, hitting $399.08. The company had a trading volume of 259,393 shares, compared to its average volume of 1,095,124. The stock has a 50-day moving average of $366.53 and a 200-day moving average of $338.04. 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 plc has a twelve month low of $184.02 and a twelve month high of $406.96. The firm has a market capitalization of $90.33 billion, a P/E ratio of 42.24, a P/E/G ratio of 2.75 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same period in the prior year, the business earned $2.68 EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. Research analysts predict that Trane Technologies plc will post 10.88 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 0.84%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio is presently 35.90%.

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.