Arcadia Investment Management Corp MI Sells 929 Shares of Trane Technologies plc (NYSE:TT)

Arcadia Investment Management Corp MI decreased its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 3.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 23,547 shares of the company's stock after selling 929 shares during the period. Trane Technologies makes up approximately 1.4% of Arcadia Investment Management Corp MI's investment portfolio, making the stock its 25th largest holding. Arcadia Investment Management Corp MI's holdings in Trane Technologies were worth $7,933,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. 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 buying an additional 152,353 shares during the period. Geode Capital Management LLC raised its position in Trane Technologies by 2.9% in the 4th 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 in the last quarter. Ameriprise Financial Inc. raised its position in Trane Technologies by 4.1% in the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock valued at $1,234,908,000 after purchasing an additional 130,867 shares in the last quarter. Norges Bank acquired a new stake in Trane Technologies in the 4th quarter valued at about $1,117,816,000. Finally, Northern Trust Corp raised its position in shares of Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after acquiring an additional 429,953 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider owned 3,593 shares in the company, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.38% of the company's stock.

Trane Technologies Stock Up 0.7%

TT traded up $2.86 on Friday, reaching $437.39. The company's stock had a trading volume of 944,543 shares, compared to its average volume of 1,333,256. The stock has a market cap of $97.55 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth ratio of 2.82 and a beta of 1.15. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $445.61. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The business's 50 day moving average is $425.24 and its 200 day moving average is $380.77.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. Trane Technologies's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.94 earnings per share. As a group, research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.86%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Analyst Ratings Changes

TT has been the topic of several research analyst reports. Robert W. Baird lifted their price target on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. UBS Group boosted their target price on Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Barclays boosted their price target on Trane Technologies from $476.00 to $480.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $434.00.

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.