Aristotle Atlantic Partners LLC trimmed its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 219,179 shares of the company's stock after selling 11,013 shares during the period. Trane Technologies makes up about 2.5% of Aristotle Atlantic Partners LLC's portfolio, making the stock its 10th biggest position. Aristotle Atlantic Partners LLC owned about 0.10% of Trane Technologies worth $80,954,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. AlTi Global Inc. acquired a new stake in Trane Technologies during the 4th quarter worth about $374,000. Meiji Yasuda Life Insurance Co grew its holdings in Trane Technologies by 78.0% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 1,216 shares of the company's stock worth $449,000 after acquiring an additional 533 shares during the period. Wahed Invest LLC raised its position in Trane Technologies by 1.5% during the fourth quarter. Wahed Invest LLC now owns 5,580 shares of the company's stock valued at $2,061,000 after acquiring an additional 82 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Trane Technologies by 201.0% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 260,275 shares of the company's stock valued at $96,133,000 after acquiring an additional 173,811 shares during the period. Finally, Rehmann Capital Advisory Group boosted its position in Trane Technologies by 17.5% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,090 shares of the company's stock worth $403,000 after purchasing an additional 162 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. This represents a 49.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 2,318 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.17, for a total transaction of $830,238.06. Following the transaction, the chief executive officer now directly owns 126,831 shares of the company's stock, valued at $45,427,059.27. The trade was a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,977 shares of company stock valued at $2,577,061 over the last quarter. 0.38% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on TT. Wells Fargo & Company lifted their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $323.00 to $334.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Robert W. Baird raised their target price on Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Melius Research reaffirmed a "hold" rating and issued a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $421.07.
Read Our Latest Analysis on Trane Technologies
Trane Technologies Price Performance
TT stock traded down $0.09 during mid-day trading on Wednesday, reaching $406.59. The company's stock had a trading volume of 2,045,146 shares, compared to its average volume of 1,325,184. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company's 50 day moving average is $346.56 and its two-hundred day moving average is $372.09. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $422.00. The stock has a market cap of $90.68 billion, a PE ratio of 36.14, a P/E/G ratio of 2.50 and a beta of 1.14.
Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the company posted $1.94 earnings per share. The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. Equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.
Trane Technologies Announces Dividend
The company also recently declared 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 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Friday, June 6th. Trane Technologies's payout ratio is presently 31.28%.
Trane Technologies Company Profile
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Free Report)
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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