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

Aristotle Atlantic Partners LLC lessened its position in shares of Trane Technologies plc (NYSE:TT) by 49.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 105,895 shares of the company’s stock after selling 104,450 shares during the quarter. Trane Technologies accounts for about 1.9% of Aristotle Atlantic Partners LLC’s holdings, making the stock its 14th biggest position. Aristotle Atlantic Partners LLC’s holdings in Trane Technologies were worth $41,214,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Trane Technologies by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock valued at $7,791,909,000 after purchasing an additional 192,270 shares during the last quarter. State Street Corp grew its stake in shares of Trane Technologies by 0.6% in the 4th quarter. State Street Corp now owns 10,113,123 shares of the company’s stock valued at $3,936,034,000 after purchasing an additional 61,393 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Trane Technologies by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock valued at $1,964,896,000 after purchasing an additional 14,179 shares during the last quarter. Norges Bank purchased a new position in shares of Trane Technologies in the 4th quarter valued at approximately $1,163,124,000. Finally, Nordea Investment Management AB grew its stake in shares of Trane Technologies by 2.9% in the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock valued at $1,010,419,000 after purchasing an additional 72,998 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the sale, the insider owned 3,819 shares in the company, valued at $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer owned 60,576 shares in the company, valued at $27,259,200. The trade was a 12.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Royal Bank Of Canada lifted their price target on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Sanford C. Bernstein started coverage on Trane Technologies in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $550.00 price target on the stock. Citigroup lifted their price target on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Barclays lifted their price target on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $509.12.

Trane Technologies Stock Performance

Trane Technologies stock opened at $472.61 on Thursday. The firm has a market capitalization of $104.47 billion, a P/E ratio of 36.55, a PEG ratio of 2.19 and a beta of 1.20. The stock has a fifty day moving average price of $466.16 and a 200 day moving average price of $434.44. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the previous year, the business earned $2.45 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be paid a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s payout ratio is 32.48%.

Trane Technologies Company 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.