Arcadia Investment Management Corp MI Trims Stock Holdings in Trane Technologies plc (NYSE:TT)

Arcadia Investment Management Corp MI lowered its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 3.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,547 shares of the company's stock after selling 929 shares during the period. Trane Technologies accounts for 1.4% of Arcadia Investment Management Corp MI's investment portfolio, making the stock its 25th largest position. Arcadia Investment Management Corp MI's holdings in Trane Technologies were worth $7,933,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Trane Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock valued at $7,104,658,000 after buying an additional 152,353 shares during the period. Geode Capital Management LLC increased its position in shares of Trane Technologies by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock worth $1,760,549,000 after purchasing an additional 136,349 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Trane Technologies by 4.1% during the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock worth $1,234,908,000 after purchasing an additional 130,867 shares during the last quarter. Norges Bank acquired a new stake in shares of Trane Technologies during the 4th quarter worth about $1,117,816,000. Finally, Northern Trust Corp increased 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 purchasing an additional 429,953 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Up 0.1%

Shares of TT traded up $0.57 during mid-day trading on Thursday, reaching $434.18. The company's stock had a trading volume of 1,051,158 shares, compared to its average volume of 1,334,810. The company's 50 day moving average is $425.24 and its 200 day moving average is $380.77. The stock has a market cap of $96.83 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 2.82 and a beta of 1.15. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $438.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.20 by $0.25. The company had revenue of $4.69 billion for 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 firm's revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.94 earnings per share. Equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the sale, the insider directly owned 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TT shares. Wells Fargo & Company boosted their target price on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Robert W. Baird boosted their target price on Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and increased their price target for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. Barclays increased their price target on shares of Trane Technologies from $476.00 to $480.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, The Goldman Sachs Group increased their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of "Moderate Buy" and a consensus 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.