Interval Partners LP Invests $11.76 Million in Trane Technologies plc (NYSE:TT)

Interval Partners LP bought a new stake in shares of Trane Technologies plc (NYSE:TT) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 39,172 shares of the company’s stock, valued at approximately $11,759,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Trane Technologies by 0.9% in the first quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after buying an additional 174,251 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Trane Technologies by 0.5% during the first quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after purchasing an additional 80,536 shares in the last quarter. Norges Bank acquired a new stake in Trane Technologies in the fourth quarter valued at approximately $655,804,000. Capital World Investors raised its stake in shares of Trane Technologies by 0.6% during the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after buying an additional 11,930 shares during the period. Finally, Alphinity Investment Management Pty Ltd lifted its position in shares of Trane Technologies by 11.4% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,018,431 shares of the company’s stock valued at $492,295,000 after buying an additional 205,882 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

TT traded down $3.01 during trading on Tuesday, reaching $328.83. The company’s stock had a trading volume of 1,338,893 shares, compared to its average volume of 1,114,096. The company’s fifty day moving average price is $332.16 and its 200-day moving average price is $304.06. The company has a market capitalization of $74.43 billion, a price-to-earnings ratio of 35.46, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $347.33.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.30. The firm had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. Trane Technologies’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the business posted $1.41 EPS. On average, equities analysts forecast that Trane Technologies plc will post 10.49 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insider Activity

In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the transaction, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the sale, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the transaction, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on TT. Mizuho boosted their price objective on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Robert W. Baird increased their price target on shares of Trane Technologies from $344.00 to $360.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Barclays boosted their price objective on shares of Trane Technologies from $380.00 to $385.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. TD Cowen upped their price target on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, UBS Group raised their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $312.36.

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.