Ridgewood Investments LLC Invests $106,000 in Trane Technologies plc (NYSE:TT)

Ridgewood Investments LLC purchased a new stake in Trane Technologies plc (NYSE:TT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 322 shares of the company’s stock, valued at approximately $106,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC grew its holdings in Trane Technologies by 138.0% during the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after acquiring an additional 3,866 shares in the last quarter. Nordea Investment Management AB increased its holdings in Trane Technologies by 3.0% during the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock valued at $135,796,000 after buying an additional 13,078 shares during the period. Sei Investments Co. increased its holdings in Trane Technologies by 379.2% during the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after buying an additional 242,271 shares during the period. GSA Capital Partners LLP purchased a new stake in Trane Technologies during the fourth quarter worth $3,086,000. Finally, Capital World Investors boosted its position in Trane Technologies by 0.6% during the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock valued at $530,870,000 after acquiring an additional 11,930 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. TD Cowen upped their price objective on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Royal Bank of Canada raised their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. UBS Group upped their price target on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Stephens reaffirmed an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. Finally, The Goldman Sachs Group lifted their target price on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $323.29.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded up $2.70 during trading hours on Thursday, reaching $355.02. The stock had a trading volume of 916,544 shares, compared to its average volume of 1,112,559. The stock’s 50 day moving average is $336.07 and its 200 day moving average is $316.18. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $359.90. The firm has a market capitalization of $80.36 billion, a PE ratio of 38.14, a PEG ratio of 2.50 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its quarterly 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 return on equity of 33.97% and a net margin of 12.33%. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter in the prior year, the firm posted $2.68 EPS. Trane Technologies’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities analysts expect that Trane Technologies plc will post 10.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.95%. The ex-dividend date is Friday, September 6th. Trane Technologies’s payout ratio is presently 35.90%.

Insider Buying and Selling at Trane Technologies

In related news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now directly owns 20,758 shares in the company, valued at approximately $6,669,545.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction on Wednesday, June 5th. The stock was 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 directly owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the transaction, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. Insiders have sold a total of 44,243 shares of company stock valued at $14,216,550 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

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.