Dara Capital US Inc. Invests $966,000 in Trane Technologies plc $TT

Dara Capital US Inc. purchased a new position in Trane Technologies plc (NYSE:TT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,483 shares of the company’s stock, valued at approximately $966,000. Trane Technologies accounts for about 0.9% of Dara Capital US Inc.’s investment portfolio, making the stock its 28th biggest position.

Other institutional investors have also recently made changes to their positions in the company. Financial Consulate Inc. bought a new position in shares of Trane Technologies in the third quarter worth $25,000. United Community Bank increased its holdings in shares of Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares during the period. JPL Wealth Management LLC bought a new position in shares of Trane Technologies in the third quarter worth $32,000. Halbert Hargrove Global Advisors LLC increased its holdings in shares of Trane Technologies by 34.2% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock worth $43,000 after purchasing an additional 26 shares during the period. Finally, KERR FINANCIAL PLANNING Corp bought a new position in shares of Trane Technologies in the third quarter worth $42,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, insider Donald E. Simmons sold 3,762 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,614,291.30. This trade represents a 49.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Elizabeth A. Elwell sold 635 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $268,414.50. Following the transaction, the chief accounting officer directly owned 7,100 shares in the company, valued at $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 57,997 shares of company stock valued at $25,107,014 over the last three months. 0.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TT has been the topic of a number of research analyst reports. Wells Fargo & Company increased their target price on Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research note on Friday, January 30th. Royal Bank Of Canada increased their target price on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a research note on Wednesday, January 7th. JPMorgan Chase & Co. increased their target price on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Finally, Morgan Stanley reduced their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Stock Up 1.2%

TT opened at $465.67 on Friday. The stock has a market cap of $103.07 billion, a PE ratio of 35.88, a P/E/G ratio of 2.45 and a beta of 1.21. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 52 week low of $318.08 and a 52 week high of $479.37. The business’s fifty day simple moving average is $440.95 and its 200 day simple moving average is $419.62.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period last year, the firm earned $2.61 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies’s dividend payout ratio (DPR) is 32.36%.

About Trane Technologies

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.