Fidelis Capital Partners LLC Increases Stock Holdings in Trane Technologies plc (NYSE:TT)

Fidelis Capital Partners LLC increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,025 shares of the company’s stock after buying an additional 45 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Trane Technologies were worth $406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DT Investment Partners LLC purchased a new position in Trane Technologies during the 3rd quarter worth $36,000. BOK Financial Private Wealth Inc. purchased a new position in Trane Technologies during the 1st quarter worth $30,000. Fortitude Family Office LLC grew its stake in Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after buying an additional 43 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in Trane Technologies during the 2nd quarter worth about $39,000. Finally, Quarry LP acquired a new stake in Trane Technologies during the 2nd quarter worth about $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction dated Tuesday, August 6th. The stock was 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 in the company, valued at $42,708,902.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on TT shares. Mizuho lifted their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley started coverage on Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target for the company. Robert W. Baird lifted their price target on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Finally, Royal Bank of Canada lifted their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $373.58.

Trane Technologies Stock Performance

Shares of TT stock opened at $375.52 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a 52-week low of $186.24 and a 52-week high of $406.96. The business has a 50-day simple moving average of $376.97 and a 200-day simple moving average of $344.61. The stock has a market cap of $85.00 billion, a PE ratio of 40.12, a price-to-earnings-growth ratio of 2.70 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the previous year, the business earned $2.68 EPS. Trane Technologies’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities analysts expect that Trane Technologies plc will post 10.89 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. Trane Technologies’s dividend payout ratio is presently 35.90%.

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.