Aristotle Capital Management LLC Lowers Position in Trane Technologies plc $TT

Key Points

• Aristotle Capital Management reduced its Trane Technologies stake by 26.4% in the first quarter, selling 88,000 shares and leaving it with 245,555 shares worth about $102.3 million.
• Trane Technologies reported strong quarterly results, with EPS of $2.63 beating estimates and revenue of $4.97 billion topping expectations; revenue rose 6% year over year.
• The company also announced a quarterly dividend of $1.05 per share, while analysts remain generally positive with a consensus rating of “Moderate Buy” and an average price target of $516.67.

Aristotle Capital Management LLC lowered its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 26.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 245,555 shares of the company's stock after selling 88,000 shares during the period. Aristotle Capital Management LLC owned approximately 0.11% of Trane Technologies worth $102,333,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors 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% in the first quarter. Bell Investment Advisors Inc now owns 203 shares of the company's stock valued at $85,000 after buying an additional 22 shares during the period. Fiduciary Family Office LLC raised its position in Trane Technologies by 1.5% in the fourth 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 during the period. Foster Dykema Cabot & Partners LLC lifted its stake in shares of 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 in the last quarter. Bridges Investment Management Inc. boosted its position in shares of Trane Technologies by 1.6% in the fourth quarter. Bridges Investment Management Inc. now owns 1,542 shares of the company's stock worth $600,000 after buying an additional 24 shares during the period. Finally, Cornerstone Planning Group LLC grew its stake in shares of Trane Technologies by 14.5% in the first quarter. Cornerstone Planning Group LLC now owns 190 shares of the company's stock valued at $79,000 after buying an additional 24 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company's stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $481.09 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The firm has a market capitalization of $106.35 billion, a PE ratio of 37.21, a P/E/G ratio of 2.21 and a beta of 1.19. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $505.87. The business's fifty day moving average price is $470.13 and its two-hundred day moving average price is $449.87.

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

Trane Technologies Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently commented on the company. Evercore assumed coverage on Trane Technologies in a research report on Monday, April 13th. They set an "outperform" rating and a $535.00 price target on the stock. Citigroup lifted their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Barclays upped their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. Finally, Royal Bank Of Canada raised their target price on Trane Technologies from $440.00 to $501.00 and gave the company a "sector perform" rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $516.67.

About Trane Technologies

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.

Want to see what other hedge funds are holding TT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trane Technologies plc (NYSE:TT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.