11 Capital Partners LP Purchases Shares of 51,900 Trane Technologies plc $TT

11 Capital Partners LP acquired a new position in shares of Trane Technologies plc (NYSE:TT) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 51,900 shares of the company’s stock, valued at approximately $21,900,000. Trane Technologies comprises about 6.2% of 11 Capital Partners LP’s holdings, making the stock its 4th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new position in shares of Trane Technologies in the 3rd quarter worth about $57,000. Invesco Ltd. grew its stake in Trane Technologies by 4.1% during the third quarter. Invesco Ltd. now owns 1,776,055 shares of the company’s stock worth $749,424,000 after buying an additional 70,172 shares during the period. Seven Mile Advisory acquired a new stake in shares of Trane Technologies in the third quarter worth $257,000. Magnolia Capital Advisors LLC increased its position in shares of Trane Technologies by 3.7% in the third quarter. Magnolia Capital Advisors LLC now owns 2,660 shares of the company’s stock worth $1,123,000 after acquiring an additional 96 shares in the last quarter. Finally, Kepler Cheuvreux Suisse SA acquired a new position in shares of Trane Technologies during the 3rd quarter valued at $40,562,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Elizabeth A. Elwell sold 635 shares of Trane Technologies stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $268,414.50. Following the sale, the chief accounting officer owned 7,100 shares of the company’s stock, valued at approximately $3,001,170. The trade was a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Donald E. Simmons sold 3,762 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $1,590,197.40. Following the transaction, the insider owned 3,819 shares of the company’s stock, valued at $1,614,291.30. This trade represents a 49.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 49,378 shares of company stock worth $21,228,464 over the last ninety days. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

TT has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Barclays upped their price target on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a research report on Wednesday, January 7th. Morgan Stanley dropped their price objective on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Finally, Royal Bank Of Canada upped their price objective on shares of Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $484.67.

Trane Technologies Stock Down 2.5%

TT stock opened at $421.53 on Friday. The firm has a market cap of $93.30 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 2.28 and a beta of 1.19. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $479.37. The firm has a fifty day moving average price of $425.78 and a two-hundred day moving average price of $417.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.Trane Technologies’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.61 earnings per share. Research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a $1.05 dividend. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. This represents a $4.20 annualized dividend and a yield of 1.0%. Trane Technologies’s payout ratio is currently 32.36%.

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.