Aristotle Atlantic Partners LLC Has $42.11 Million Position in Trane Technologies plc $TT

Aristotle Atlantic Partners LLC cut its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,047 shares of the company's stock after selling 4,848 shares during the period. Trane Technologies comprises approximately 2.0% of Aristotle Atlantic Partners LLC's portfolio, making the stock its 14th largest position. Aristotle Atlantic Partners LLC's holdings in Trane Technologies were worth $42,110,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc raised its holdings in Trane Technologies by 12.2% during the 1st quarter. Bell Investment Advisors Inc now owns 203 shares of the company's stock worth $85,000 after purchasing an additional 22 shares during the last quarter. Fiduciary Family Office LLC boosted its position in shares of Trane Technologies by 1.5% during the 4th quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company's stock valued at $612,000 after purchasing an additional 23 shares in the last quarter. Foster Dykema Cabot & Partners LLC grew its stake in Trane Technologies by 10.6% during the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company's stock worth $93,000 after purchasing an additional 23 shares during the period. Bridges Investment Management Inc. grew its stake in Trane Technologies by 1.6% during the fourth quarter. Bridges Investment Management Inc. now owns 1,542 shares of the company's stock worth $600,000 after purchasing an additional 24 shares during the period. Finally, Cornerstone Planning Group LLC increased its holdings in Trane Technologies by 14.5% in the first quarter. Cornerstone Planning Group LLC now owns 190 shares of the company's stock worth $79,000 after purchasing an additional 24 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Donald E. Simmons sold 4,593 shares of the firm's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Trane Technologies Trading Up 0.3%

NYSE TT opened at $481.09 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $470.13 and a 200 day simple moving average of $449.87. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $505.87. The firm has a market capitalization of $106.34 billion, a P/E ratio of 37.21, a PEG ratio of 2.21 and a beta of 1.19.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.45 EPS. On average, analysts predict that Trane Technologies plc will post 14.89 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies's dividend payout ratio is 32.48%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BNP Paribas Exane assumed coverage on Trane Technologies in a report on Tuesday, April 14th. They set an "outperform" rating and a $550.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Royal Bank Of Canada increased their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a "sector perform" rating in a research note on Friday, May 1st. Barclays raised their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Finally, Sanford C. Bernstein set a $555.00 price objective on shares of Trane Technologies in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $516.67.

Trane Technologies Profile

Trane Technologies NYSE: TT is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.

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