Trane Technologies plc (NYSE:TT) Shares Sold by Aristotle Capital Management LLC

Aristotle Capital Management LLC cut its stake in Trane Technologies plc (NYSE:TT - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 346,555 shares of the company's stock after selling 43,000 shares during the quarter. Aristotle Capital Management LLC owned about 0.15% of Trane Technologies worth $128,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlTi Global Inc. purchased a new stake in Trane Technologies in the 4th quarter worth approximately $374,000. Meiji Yasuda Life Insurance Co increased its holdings in shares of Trane Technologies by 78.0% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 1,216 shares of the company's stock worth $449,000 after purchasing an additional 533 shares during the period. Wahed Invest LLC raised its position in shares of Trane Technologies by 1.5% in the fourth quarter. Wahed Invest LLC now owns 5,580 shares of the company's stock worth $2,061,000 after buying an additional 82 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in Trane Technologies by 201.0% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 260,275 shares of the company's stock valued at $96,133,000 after buying an additional 173,811 shares during the period. Finally, Rehmann Capital Advisory Group grew its position in Trane Technologies by 17.5% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,090 shares of the company's stock worth $403,000 after buying an additional 162 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TT has been the topic of several recent analyst reports. Melius Research reaffirmed a "hold" rating and issued a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Robert W. Baird lifted their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Wells Fargo & Company increased their price target on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Melius lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a research report on Tuesday, January 28th. Finally, Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Trane Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $421.07.

Trane Technologies Price Performance

TT stock traded down $0.09 during trading on Wednesday, reaching $406.59. The company's stock had a trading volume of 2,045,146 shares, compared to its average volume of 1,325,184. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $90.68 billion, a P/E ratio of 36.14, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The company's fifty day moving average is $346.56 and its 200-day moving average is $372.09. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company's revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.94 earnings per share. On average, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm 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 $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.92%. Trane Technologies's dividend payout ratio is presently 31.28%.

Insider Buying and Selling

In other news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now owns 20,513 shares of the company's stock, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 770 shares of the company's stock in a transaction 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 transaction, the chief financial officer now directly owns 62,221 shares in the company, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,977 shares of company stock valued at $2,577,061. 0.38% of the stock is owned by corporate insiders.

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.