Trane Technologies plc (NYSE:TT) Shares Bought by Aquatic Capital Management LLC

Aquatic Capital Management LLC grew its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 144.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,010 shares of the company's stock after purchasing an additional 31,290 shares during the period. Aquatic Capital Management LLC's holdings in Trane Technologies were worth $19,579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Trane Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock worth $7,104,658,000 after purchasing an additional 152,353 shares during the period. Geode Capital Management LLC lifted its position in Trane Technologies by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after purchasing an additional 136,349 shares during the last quarter. Norges Bank bought a new stake in shares of Trane Technologies during the 4th quarter valued at about $1,117,816,000. Raymond James Financial Inc. bought a new stake in Trane Technologies during the fourth quarter worth about $611,322,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Trane Technologies by 4.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,258,480 shares of the company's stock worth $464,820,000 after buying an additional 55,515 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insiders Place Their Bets

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares of the company's stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the sale, the chief financial officer now owns 62,221 shares of the company's stock, valued at $22,299,384.19. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,234 shares of company stock valued at $2,588,102. Corporate insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TT. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a research report on Thursday. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $405.00 to $415.00 in a research note on Friday, April 25th. Barclays reduced their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $323.00 to $334.00 and gave the stock a "neutral" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Trane Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $414.56.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded up $11.56 during trading on Thursday, reaching $394.87. The company's stock had a trading volume of 1,038,613 shares, compared to its average volume of 1,313,332. The stock has a market capitalization of $88.57 billion, a P/E ratio of 35.02, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a one year low of $298.15 and a one year high of $422.00. 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 has a 50-day moving average price of $342.32 and a two-hundred day moving average price of $372.27.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period in the prior year, the business earned $1.94 EPS. The company's revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Friday, June 6th. Trane Technologies's dividend payout ratio (DPR) 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.