Taika Capital LP Makes New Investment in Trane Technologies plc (NYSE:TT)

Taika Capital LP bought a new position in Trane Technologies plc (NYSE:TT) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 4,093 shares of the company’s stock, valued at approximately $1,512,000. Trane Technologies accounts for approximately 1.2% of Taika Capital LP’s investment portfolio, making the stock its 28th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sound View Wealth Advisors Group LLC purchased a new position in Trane Technologies during the fourth quarter valued at $225,000. Dorsey & Whitney Trust CO LLC raised its stake in Trane Technologies by 7.7% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 3,817 shares of the company’s stock valued at $1,410,000 after buying an additional 272 shares during the last quarter. Larson Financial Group LLC raised its stake in Trane Technologies by 10.5% during the fourth quarter. Larson Financial Group LLC now owns 1,297 shares of the company’s stock valued at $479,000 after buying an additional 123 shares during the last quarter. HM Payson & Co. raised its stake in Trane Technologies by 0.8% during the fourth quarter. HM Payson & Co. now owns 9,272 shares of the company’s stock valued at $3,425,000 after buying an additional 73 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Trane Technologies by 0.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 291,214 shares of the company’s stock valued at $107,560,000 after buying an additional 1,687 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

NYSE TT opened at $344.81 on Monday. Trane Technologies plc has a 52 week low of $279.00 and a 52 week high of $422.00. The firm has a market capitalization of $77.34 billion, a P/E ratio of 30.65, a PEG ratio of 2.50 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $367.96 and a 200-day moving average price of $380.61.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. Trane Technologies’s dividend payout ratio is presently 33.42%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. Citigroup decreased their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays boosted their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Northcoast Research initiated coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective for the company. Finally, UBS Group decreased their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $415.25.

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 2,318 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.17, for a total transaction of $830,238.06. Following the completion of the sale, the chief executive officer now directly owns 126,831 shares of the company’s stock, valued at $45,427,059.27. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the transaction, the chief financial officer now directly owns 63,841 shares in the company, valued at $22,818,050.22. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock worth $2,588,102 over the last quarter. 0.38% of the stock is currently owned by corporate insiders.

About Trane Technologies

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.