AQR Capital Management LLC Grows Stake in Trane Technologies plc (NYSE:TT)

AQR Capital Management LLC grew its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 12.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 453,544 shares of the company's stock after acquiring an additional 49,238 shares during the quarter. AQR Capital Management LLC owned about 0.20% of Trane Technologies worth $167,516,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TT. World Investment Advisors LLC lifted its holdings in shares of Trane Technologies by 5,253.1% in the 3rd quarter. World Investment Advisors LLC now owns 34,581 shares of the company's stock valued at $13,443,000 after buying an additional 33,935 shares during the period. Sfmg LLC lifted its holdings in shares of Trane Technologies by 1.5% during the 3rd quarter. Sfmg LLC now owns 2,441 shares of the company's stock worth $949,000 after acquiring an additional 36 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Trane Technologies during the 3rd quarter worth about $3,916,000. Tidal Investments LLC lifted its holdings in shares of Trane Technologies by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company's stock worth $6,152,000 after acquiring an additional 2,874 shares during the period. Finally, Synovus Financial Corp raised its holdings in Trane Technologies by 16.8% in the third quarter. Synovus Financial Corp now owns 8,828 shares of the company's stock valued at $3,431,000 after buying an additional 1,271 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Melius Research reiterated a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. Royal Bank of Canada raised their target price on Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research note on Friday, January 3rd. HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and upped their price objective for the stock from $405.00 to $415.00 in a report on Friday. Wells Fargo & Company lowered their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a research note on Friday, January 31st. Finally, Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies has an average rating of "Hold" and an average price target of $405.94.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the transaction, the chief financial officer now owns 62,221 shares of the company's stock, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares of the company's stock, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,234 shares of company stock worth $2,588,102. Corporate insiders own 0.38% of the company's stock.

Trane Technologies Stock Up 1.0 %

Shares of NYSE:TT opened at $351.38 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $422.00. The company has a fifty day simple moving average of $342.00 and a 200 day simple moving average of $372.33. The firm has a market cap of $78.81 billion, a PE ratio of 31.23, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 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%. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 1.07%. Trane Technologies's dividend payout ratio is currently 33.42%.

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.

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