Magnetar Financial LLC Purchases New Stake in Trane Technologies plc (NYSE:TT)

Magnetar Financial LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 13,734 shares of the company’s stock, valued at approximately $5,073,000.

Several other large investors also recently made changes to their positions in the business. Global Wealth Strategies & Associates acquired a new stake in Trane Technologies in the 4th quarter valued at $26,000. Sound Income Strategies LLC grew its stake in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at about $37,000. Golden State Wealth Management LLC acquired a new position in Trane Technologies during the 4th quarter worth approximately $39,000. Finally, Legacy Investment Solutions LLC purchased a new position in Trane Technologies in the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on TT shares. Northcoast Research initiated coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company lowered their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research note on Tuesday, January 28th. Finally, Melius Research restated a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average target price of $413.69.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares of the company’s stock, valued at $4,792,331.61. The trade was a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the transaction, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,234 shares of company stock worth $2,588,102. Insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $350.28 on Thursday. The company has a market cap of $78.56 billion, a PE ratio of 31.14, a P/E/G ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00. The firm has a 50-day simple moving average of $362.58 and a 200 day simple moving average of $379.83. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last posted its 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 return on equity of 35.37% and a net margin of 12.94%. On average, sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.07%. Trane Technologies’s payout ratio is 33.42%.

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.