Trane Technologies plc $TT Shares Sold by Aristotle Atlantic Partners LLC

Key Points

• Aristotle Atlantic Partners trimmed its stake in Trane Technologies by 2.2% in Q3, selling 4,714 shares and holding 210,345 shares (about 0.09% of the company) valued at roughly $88.8 million, making TT its 10th-largest holding.
• Insider selling has been notable recently — insiders sold 49,378 shares in the last three months worth about $21.2 million (including CAO Elizabeth Elwell and CFO Christopher Kuehn), leaving insiders with just 0.14% ownership.
• Dividend increase: Trane raised its quarterly dividend to $1.05 (annualized $4.20, ~1.0% yield) from $0.94, with an ex-dividend date of March 6 and payment on March 31.

Aristotle Atlantic Partners LLC lessened its stake in Trane Technologies plc (NYSE:TT - Free Report) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 210,345 shares of the company's stock after selling 4,714 shares during the period. Trane Technologies accounts for 2.6% of Aristotle Atlantic Partners LLC's portfolio, making the stock its 10th largest holding. Aristotle Atlantic Partners LLC owned about 0.09% of Trane Technologies worth $88,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Aptus Capital Advisors LLC boosted its holdings in Trane Technologies by 169.8% in the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company's stock valued at $6,219,000 after acquiring an additional 9,276 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Trane Technologies in the third quarter worth about $6,571,000. Nordea Investment Management AB raised its holdings in Trane Technologies by 2.4% during the 3rd quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company's stock worth $1,051,049,000 after purchasing an additional 57,774 shares during the last quarter. Boston Common Asset Management LLC acquired a new position in Trane Technologies during the 3rd quarter valued at about $9,546,000. Finally, Compass Wealth Management LLC lifted its position in Trane Technologies by 3,785.4% during the 3rd quarter. Compass Wealth Management LLC now owns 27,198 shares of the company's stock valued at $11,476,000 after purchasing an additional 26,498 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity

In related news, CAO Elizabeth A. Elwell sold 635 shares of the company's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the sale, the chief accounting officer owned 7,100 shares in the company, valued at $3,001,170. This represents a 8.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher J. Kuehn sold 2,389 shares of the firm's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total value of $1,105,390.30. Following the sale, the chief financial officer directly owned 60,486 shares in the company, valued at $27,986,872.20. The trade was a 3.80% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 49,378 shares of company stock valued at $21,228,464. 0.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TT has been the subject of several analyst reports. Royal Bank Of Canada lifted their price target on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a "sector perform" rating in a research report on Friday, January 30th. Wells Fargo & Company increased their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the company an "underweight" rating in a report on Friday, January 30th. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $434.00 to $460.00 and gave the company a "neutral" rating in a research note on Friday, January 30th. UBS Group dropped their target price on shares of Trane Technologies from $544.00 to $520.00 and set a "buy" rating for the company in a research report on Monday, January 5th. Finally, Morgan Stanley cut their price target on Trane Technologies from $550.00 to $535.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $484.67.

Trane Technologies Price Performance

Trane Technologies stock opened at $422.66 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $93.55 billion, a P/E ratio of 32.56, a PEG ratio of 2.22 and a beta of 1.19. The business has a 50-day moving average of $426.27 and a 200-day moving average of $417.18. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $479.37.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same period last year, the company posted $2.61 EPS. Trane Technologies's revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.0%. This is a boost from Trane Technologies's previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. Trane Technologies's dividend payout ratio (DPR) is 32.36%.

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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