Arcadia Investment Management Corp MI Cuts Position in Trane Technologies plc (NYSE:TT)

Arcadia Investment Management Corp MI lowered its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,547 shares of the company's stock after selling 929 shares during the quarter. Trane Technologies accounts for approximately 1.4% of Arcadia Investment Management Corp MI's investment portfolio, making the stock its 25th biggest holding. Arcadia Investment Management Corp MI's holdings in Trane Technologies were worth $7,933,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC raised its holdings in shares of Trane Technologies by 0.8% in the 4th quarter. Quadrant Capital Group LLC now owns 3,786 shares of the company's stock worth $1,398,000 after purchasing an additional 30 shares during the period. Tradewinds Capital Management LLC raised its holdings in shares of Trane Technologies by 46.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock worth $32,000 after purchasing an additional 30 shares during the period. Smith Group Asset Management LLC raised its holdings in shares of Trane Technologies by 1.2% in the 1st quarter. Smith Group Asset Management LLC now owns 2,610 shares of the company's stock worth $879,000 after purchasing an additional 30 shares during the period. Tortoise Investment Management LLC raised its holdings in shares of Trane Technologies by 6.5% in the 4th quarter. Tortoise Investment Management LLC now owns 537 shares of the company's stock worth $198,000 after purchasing an additional 33 shares during the period. Finally, Foster Group Inc. raised its holdings in shares of Trane Technologies by 1.2% in the 1st quarter. Foster Group Inc. now owns 2,833 shares of the company's stock worth $954,000 after purchasing an additional 33 shares during the period. Institutional investors own 82.97% of the company's stock.

Insider Transactions at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider directly owned 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of research reports. UBS Group lifted their price target on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Citigroup lifted their price objective on shares of Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Barclays lifted their price objective on shares of Trane Technologies from $476.00 to $480.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $434.00.

Trane Technologies Price Performance

Shares of TT traded up $0.29 during mid-day trading on Thursday, reaching $433.90. 465,697 shares of the stock traded hands, compared to its average volume of 1,330,785. The firm has a fifty day moving average price of $424.42 and a 200 day moving average price of $380.38. The company has a market cap of $96.77 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $438.95.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The business's revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.94 EPS. As a group, equities research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.87%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Trane Technologies Profile

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.