Quadrant Capital Group LLC Sells 246 Shares of Trane Technologies plc (NYSE:TT)

Quadrant Capital Group LLC trimmed its position in Trane Technologies plc (NYSE:TT) by 9.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,463 shares of the company’s stock after selling 246 shares during the quarter. Quadrant Capital Group LLC’s holdings in Trane Technologies were worth $471,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its stake in shares of Trane Technologies by 453.6% during the second quarter. Capital Advisors Ltd. LLC now owns 155 shares of the company’s stock worth $30,000 after buying an additional 127 shares during the last quarter. Live Oak Investment Partners bought a new stake in shares of Trane Technologies during the fourth quarter worth $30,000. WealthPLAN Partners LLC bought a new stake in shares of Trane Technologies during the first quarter worth $33,000. 1832 Asset Management L.P. bought a new stake in shares of Trane Technologies during the first quarter worth $34,000. Finally, Dark Forest Capital Management LP bought a new stake in shares of Trane Technologies during the first quarter worth $43,000. 80.66% of the stock is owned by institutional investors.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 17,585 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $220.00, for a total transaction of $3,868,700.00. Following the sale, the chief executive officer now directly owns 93,081 shares in the company, valued at approximately $20,477,820. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO David S. Regnery sold 17,585 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $220.00, for a total transaction of $3,868,700.00. Following the sale, the chief executive officer now directly owns 93,081 shares in the company, valued at approximately $20,477,820. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Raymond D. Pittard sold 13,144 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $218.24, for a total transaction of $2,868,546.56. Following the sale, the executive vice president now owns 82,235 shares in the company, valued at $17,946,966.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,366 shares of company stock worth $7,093,065. 0.39% of the stock is owned by corporate insiders.

Trane Technologies Stock Up 0.9 %

Trane Technologies stock opened at $228.68 on Friday. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $229.94. The firm has a 50 day moving average price of $205.29 and a 200-day moving average price of $194.83. The company has a market capitalization of $52.04 billion, a P/E ratio of 26.94, a P/E/G ratio of 1.85 and a beta of 1.01. The company has a quick ratio of 0.87, a current ratio of 1.29 and a debt-to-equity ratio of 0.67.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, November 1st. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.13. Trane Technologies had a net margin of 11.30% and a return on equity of 31.97%. The firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the firm earned $2.27 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. As a group, equities analysts predict that Trane Technologies plc will post 9.01 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Thursday, November 30th. Trane Technologies’s payout ratio is currently 35.34%.

Analysts Set New Price Targets

A number of research firms have weighed in on TT. Barclays boosted their target price on shares of Trane Technologies from $222.00 to $226.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. Wells Fargo & Company reduced their price objective on shares of Trane Technologies from $195.00 to $190.00 in a research note on Monday, October 9th. HSBC initiated coverage on shares of Trane Technologies in a research note on Friday, September 15th. They issued a “buy” rating and a $256.00 price objective on the stock. JPMorgan Chase & Co. raised shares of Trane Technologies from an “underweight” rating to a “neutral” rating and set a $191.00 price objective on the stock in a research note on Friday, October 6th. Finally, Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $204.00 to $231.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus target price of $207.31.

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.