Trane Technologies plc (NYSE:TT) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP increased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 39.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,291 shares of the company's stock after purchasing an additional 4,300 shares during the quarter. Quantinno Capital Management LP's holdings in Trane Technologies were worth $5,648,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position 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 valued at $7,104,658,000 after purchasing an additional 152,353 shares in the last quarter. Geode Capital Management LLC boosted its stake in Trane Technologies by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock worth $1,760,549,000 after buying an additional 136,349 shares during the last quarter. Ameriprise Financial Inc. grew its holdings 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 buying an additional 130,867 shares in the last quarter. Norges Bank acquired a new stake in shares of Trane Technologies in the 4th quarter worth $1,117,816,000. Finally, Northern Trust Corp raised its holdings 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 during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Trading Down 1.2%

Shares of TT stock traded down $5.13 on Wednesday, hitting $424.67. The stock had a trading volume of 1,302,841 shares, compared to its average volume of 1,347,262. The company's 50 day moving average price is $361.71 and its 200-day moving average price is $374.22. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $433.49. The firm has a market capitalization of $94.71 billion, a P/E ratio of 37.75, a P/E/G ratio of 2.50 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 12.94% and a return on equity of 35.37%. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.94 earnings per share. Analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Friday, June 6th. Trane Technologies's dividend payout ratio is currently 31.28%.

Analyst Ratings Changes

Several research firms recently issued reports on TT. HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and raised their price objective for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. Robert W. Baird raised their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Royal Bank of Canada increased their price objective on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. Finally, Wells Fargo & Company lifted their target price on Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. One equities 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $425.47.

Insider Activity

In related news, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction on 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 transaction, the insider now directly owns 3,593 shares of the company's stock, valued at $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.38% of the company's stock.

Trane Technologies Profile

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.