Lecap Asset Management Ltd. Takes $1.05 Million Position in Trane Technologies plc (NYSE:TT)

Lecap Asset Management Ltd. bought a new position in shares of Trane Technologies plc (NYSE:TT) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,852 shares of the company’s stock, valued at approximately $1,053,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates bought a new position in shares of Trane Technologies during the 4th quarter valued at about $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies during the third quarter worth $27,000. DT Investment Partners LLC acquired a new stake in shares of Trane Technologies during the third quarter worth $36,000. Sound Income Strategies LLC lifted its position in Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares in the last quarter. Finally, Pittenger & Anderson Inc. bought a new position in Trane Technologies during the 3rd quarter worth about $39,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TT shares. Royal Bank of Canada upped their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Wells Fargo & Company decreased their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Northcoast Research initiated coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price for the company. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $415.25.

Trane Technologies Stock Down 0.5 %

TT opened at $356.07 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $384.85 and its 200 day simple moving average is $376.96. Trane Technologies plc has a 1-year low of $265.37 and a 1-year high of $422.00. The stock has a market cap of $80.12 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, research analysts expect that Trane Technologies plc will post 12.79 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is currently 29.87%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the sale, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mairead Magner sold 4,329 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,157 shares of company stock worth $3,168,885. Company insiders own 0.38% of the company’s stock.

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.