Aristotle Capital Management LLC Cuts Holdings in Trane Technologies plc $TT

Aristotle Capital Management LLC reduced its holdings in Trane Technologies plc (NYSE:TT) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 333,555 shares of the company’s stock after selling 13,000 shares during the quarter. Aristotle Capital Management LLC’s holdings in Trane Technologies were worth $140,747,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Financial Consulate Inc. acquired a new position in Trane Technologies during the third quarter worth $25,000. Icon Advisers Inc. Co. purchased a new stake in shares of Trane Technologies during the 2nd quarter worth $26,000. United Community Bank boosted its position in shares of Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares in the last quarter. Halbert Hargrove Global Advisors LLC boosted its position in shares of Trane Technologies by 34.2% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock worth $43,000 after purchasing an additional 26 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in shares of Trane Technologies by 58.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock valued at $45,000 after purchasing an additional 39 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TT has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research note on Friday, January 30th. Royal Bank Of Canada upped their target price 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. Barclays increased their target price on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Finally, Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target on the stock in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Price Performance

Shares of NYSE TT 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 company’s 50-day moving average price is $426.27 and its 200 day moving average price is $417.18. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37. The stock has a market cap of $93.55 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 2.22 and a beta of 1.19.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the previous year, the business posted $2.61 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

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

Insider Buying and Selling

In other news, CEO David S. Regnery sold 36,045 shares of the 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. This represents a 27.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Elizabeth A. Elwell sold 635 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the sale, the chief accounting officer owned 7,100 shares of the company’s stock, valued at approximately $3,001,170. The trade was a 8.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 49,378 shares of company stock valued at $21,228,464. 0.14% of the stock is owned by insiders.

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.