Arcadia Investment Management Corp MI Decreases Holdings in Trane Technologies plc (NYSE:TT)

Arcadia Investment Management Corp MI trimmed its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 15.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,389 shares of the company's stock after selling 4,345 shares during the period. Trane Technologies accounts for about 1.3% of Arcadia Investment Management Corp MI's holdings, making the stock its 25th largest holding. Arcadia Investment Management Corp MI's holdings in Trane Technologies were worth $7,322,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP increased its position in shares of Trane Technologies by 36.4% during the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company's stock worth $332,581,000 after purchasing an additional 436,997 shares in the last quarter. Xponance Inc. increased its position in shares of Trane Technologies by 18.6% during the fourth quarter. Xponance Inc. now owns 43,825 shares of the company's stock worth $10,689,000 after purchasing an additional 6,869 shares in the last quarter. CHICAGO TRUST Co NA increased its position in shares of Trane Technologies by 2.1% during the fourth quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company's stock worth $765,000 after purchasing an additional 64 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Trane Technologies by 60.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company's stock valued at $27,375,000 after acquiring an additional 42,409 shares during the period. Finally, Wealth Effects LLC acquired a new position in Trane Technologies in the 4th quarter valued at about $239,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of the firm's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $272.26, for a total value of $539,891.58. Following the transaction, the senior vice president now owns 42,575 shares of the company's stock, valued at $11,591,469.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the sale, the executive vice president now owns 89,447 shares in the company, valued at $24,449,442.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Keith A. Sultana sold 1,983 shares of the firm's stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the sale, the senior vice president now owns 42,575 shares in the company, valued at approximately $11,591,469.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,237 shares of company stock valued at $8,024,534. Insiders own 0.39% of the company's stock.

Trane Technologies Stock Up 0.6 %

NYSE TT traded up $1.82 during trading hours on Thursday, hitting $316.80. The company had a trading volume of 1,153,183 shares, compared to its average volume of 1,032,772. Trane Technologies plc has a fifty-two week low of $162.04 and a fifty-two week high of $327.09. The company has a market capitalization of $71.78 billion, a price-to-earnings ratio of 33.85, a P/E/G ratio of 2.61 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.78. The firm's 50 day moving average is $295.08 and its 200 day moving average is $257.16.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.30. The company had revenue of $4.22 billion during the quarter, compared to analysts' expectations of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm's revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 EPS. Sell-side analysts anticipate that Trane Technologies plc will post 10.49 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.06%. Trane Technologies's payout ratio is 35.90%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Royal Bank of Canada boosted their target price on Trane Technologies from $231.00 to $246.00 and gave the stock a "sector perform" rating in a research report on Friday, February 2nd. Robert W. Baird boosted their price target on Trane Technologies from $315.00 to $344.00 and gave the stock a "neutral" rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $247.00 to $300.00 and gave the stock a "neutral" rating in a research note on Thursday. TD Cowen boosted their price target on Trane Technologies from $325.00 to $360.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Wells Fargo & Company boosted their price target on Trane Technologies from $281.00 to $295.00 and gave the stock an "underweight" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $300.54.

Trane Technologies Company 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.

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