Entropy Technologies LP Buys New Shares in Trane Technologies plc $TT

Entropy Technologies LP bought a new stake in shares of Trane Technologies plc (NYSE:TT) during the 4th quarter, Holdings Channel reports. The firm bought 37,945 shares of the company’s stock, valued at approximately $14,768,000. Trane Technologies accounts for approximately 0.8% of Entropy Technologies LP’s holdings, making the stock its 13th biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. AFT Forsyth & Company Inc. lifted its position in Trane Technologies by 15.2% during the fourth quarter. AFT Forsyth & Company Inc. now owns 570 shares of the company’s stock valued at $222,000 after purchasing an additional 75 shares in the last quarter. Aigen Investment Management LP raised its holdings in Trane Technologies by 128.3% during the fourth quarter. Aigen Investment Management LP now owns 1,146 shares of the company’s stock valued at $446,000 after acquiring an additional 644 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Trane Technologies by 23.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 909,057 shares of the company’s stock valued at $353,805,000 after acquiring an additional 172,300 shares during the period. Atlas Capital Advisors Inc. bought a new stake in Trane Technologies during the fourth quarter valued at about $172,000. Finally, Alamea Verwaltungs GmbH raised its holdings in Trane Technologies by 30.4% during the fourth quarter. Alamea Verwaltungs GmbH now owns 2,161 shares of the company’s stock valued at $909,000 after acquiring an additional 504 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TT shares. JPMorgan Chase & Co. raised their price target on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Evercore started coverage on Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target on the stock. KeyCorp raised their price target on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Barclays raised their price target on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Citigroup raised their price target on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $509.12.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Trane Technologies Trading Down 0.5%

Shares of TT stock opened at $457.69 on Friday. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average price is $463.44 and its 200-day moving average price is $433.14. The stock has a market capitalization of $101.17 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.20.

Trane Technologies (NYSE:TT) last issued its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same period in the previous year, the firm posted $2.45 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts predict that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s payout ratio is 32.48%.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.