Arcadia Investment Management Corp MI trimmed its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 3.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 23,547 shares of the company's stock after selling 929 shares during the quarter. Trane Technologies accounts for about 1.4% of Arcadia Investment Management Corp MI's holdings, 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.
A number of other hedge funds have also recently made changes to their positions in TT. Vanguard Group Inc. increased its stake in shares of Trane Technologies by 0.8% in the fourth 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 increased its position in Trane Technologies by 2.9% during 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 during the period. Ameriprise Financial Inc. increased its position in Trane Technologies by 4.1% during 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 during the period. Norges Bank purchased a new position in Trane Technologies during the 4th quarter valued at $1,117,816,000. Finally, Northern Trust Corp increased its position in Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock valued at $948,316,000 after purchasing an additional 429,953 shares during the period. 82.97% of the stock is currently owned by institutional investors.
Trane Technologies Price Performance
TT traded up $6.60 during trading on Wednesday, reaching $433.49. 841,621 shares of the company traded hands, compared to its average volume of 1,332,814. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $438.95. The firm has a fifty day simple moving average of $423.41 and a 200 day simple moving average of $380.01. The company has a market cap of $96.68 billion, a P/E ratio of 36.06, a PEG ratio of 2.86 and a beta of 1.15.
Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data 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. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the previous year, the company posted $1.94 earnings per share. The firm's quarterly revenue was up 11.2% on a year-over-year basis. On average, equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.
Trane Technologies Announces Dividend
The company 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 of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.87%. Trane Technologies's dividend payout ratio is currently 31.28%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on TT. UBS Group boosted their price objective on shares of Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada raised their target price on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a research note on Thursday, May 1st. Wells Fargo & Company upped their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Finally, The Goldman Sachs Group upped their target price 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 investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Trane Technologies currently has an average rating of "Moderate Buy" and an average target price of $434.00.
View Our Latest Stock Report on Trane Technologies
Insider Buying and Selling
In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following 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 document filed with the SEC, which is accessible through this link. 0.38% of the stock is currently owned by corporate insiders.
Trane Technologies Company Profile
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Free Report)
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.
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