Trane Technologies plc $TT Shares Sold by Aristotle Capital Management LLC

Key Points

• Aristotle Capital trimmed its stake in Trane Technologies by 3.8% (sold 13,000 shares), leaving 333,555 shares (~0.15%) valued at about $140.7M, and institutional investors own 82.97% of the stock.
• Insider selling has been significant: CEO David Regnery sold 36,045 shares for roughly $15.24M (a 27.1% decline in his ownership), and insiders have sold 49,378 shares worth about $21.23M in the last 90 days.
• Earnings and dividend: Trane beat quarterly EPS expectations ($2.86 vs. $2.81) with revenue up 5.6% to $5.14B, and raised its quarterly dividend to $1.05 ($4.20 annualized, 1.0% yield) while analysts' consensus target is $484.67 ("Moderate Buy").

Aristotle Capital Management LLC trimmed its stake in Trane Technologies plc (NYSE:TT - Free Report) by 3.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 333,555 shares of the company's stock after selling 13,000 shares during the period. Aristotle Capital Management LLC owned approximately 0.15% of Trane Technologies worth $140,747,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC grew its holdings in shares of Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after purchasing an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Trane Technologies by 22.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company's stock valued at $728,000 after purchasing an additional 305 shares during the last quarter. Schnieders Capital Management LLC. acquired a new stake in shares of Trane Technologies in the 2nd quarter valued at about $227,000. Massachusetts Financial Services Co. MA boosted its position in shares of Trane Technologies by 4.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,168,790 shares of the company's stock valued at $948,650,000 after purchasing an additional 92,029 shares during the period. Finally, Foundations Investment Advisors LLC grew its stake in Trane Technologies by 1.3% during the 2nd quarter. Foundations Investment Advisors LLC now owns 6,593 shares of the company's stock worth $2,884,000 after buying an additional 84 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Up 0.2%

Shares of TT stock opened at $422.66 on Friday. The company has a market capitalization of $93.55 billion, a P/E ratio of 32.56, a price-to-earnings-growth ratio of 2.22 and a beta of 1.19. 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 business's 50 day moving average is $426.27 and its two-hundred day moving average is $417.18. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business had revenue of $5.14 billion during the quarter, compared to analysts' expectations of $5.09 billion. During the same quarter in the prior year, the business earned $2.61 earnings per share. The company's quarterly revenue was up 5.6% compared to the same quarter last year. Equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, March 6th. This is an increase from Trane Technologies's previous quarterly dividend of $0.94. Trane Technologies's payout ratio is currently 32.36%.

Insider Activity

In other news, CEO David S. Regnery sold 36,045 shares of the business's stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the transaction, the chief executive officer directly owned 96,948 shares in the company, valued at $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Donald E. Simmons sold 3,762 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the transaction, the insider directly owned 3,819 shares of the company's stock, valued at $1,614,291.30. This represents a 49.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 49,378 shares of company stock worth $21,228,464 in the last 90 days. Corporate insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Morgan Stanley reduced their price objective on Trane Technologies from $550.00 to $535.00 and set an "overweight" rating for the company in a research note on Tuesday, January 13th. Citigroup lifted their target price on shares of Trane Technologies from $513.00 to $525.00 and gave the company a "buy" rating in a report on Friday, January 30th. JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the company a "neutral" rating in a research report on Friday, January 30th. Melius Research upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and set a $490.00 price target for the company in a research note on Wednesday, January 7th. Finally, Royal Bank Of Canada raised their price objective 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. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $484.67.

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.

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