Arcadia Investment Management Corp MI Decreases Stock Position in Trane Technologies plc $TT

Arcadia Investment Management Corp MI lessened its stake in Trane Technologies plc (NYSE:TT) by 10.9% in the fourth quarter, Holdings Channel reports. The fund owned 17,494 shares of the company’s stock after selling 2,144 shares during the quarter. Trane Technologies makes up about 1.1% of Arcadia Investment Management Corp MI’s holdings, making the stock its 28th biggest holding. Arcadia Investment Management Corp MI’s holdings in Trane Technologies were worth $6,809,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TT. Bridgewater Advisors Inc. raised its position in shares of Trane Technologies by 3.7% in the 3rd quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock valued at $285,000 after purchasing an additional 24 shares in the last quarter. West Family Investments Inc. raised its position in shares of Trane Technologies by 2.3% in the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock valued at $452,000 after purchasing an additional 24 shares in the last quarter. Cresset Asset Management LLC raised its position in shares of Trane Technologies by 0.3% in the 3rd quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock valued at $2,959,000 after purchasing an additional 24 shares in the last quarter. Bryn Mawr Trust Advisors LLC raised its position in shares of Trane Technologies by 1.2% in the 4th quarter. Bryn Mawr Trust Advisors LLC now owns 2,112 shares of the company’s stock valued at $822,000 after purchasing an additional 25 shares in the last quarter. Finally, HCR Wealth Advisors raised its position in shares of Trane Technologies by 3.7% in the 4th quarter. HCR Wealth Advisors now owns 721 shares of the company’s stock valued at $281,000 after purchasing an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 36,045 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the transaction, the chief executive officer owned 96,948 shares of the company’s stock, valued at $40,978,950.12. This trade represents a 27.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. This represents a 54.60% 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. Over the last ninety days, insiders sold 53,654 shares of company stock worth $23,269,523. Corporate insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TT shares. Royal Bank Of Canada upped their target price on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Evercore assumed coverage on Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. KeyCorp upped their price target on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, BNP Paribas Exane assumed coverage on Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $506.56.

Trane Technologies Trading Up 0.1%

NYSE:TT opened at $451.68 on Monday. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $503.47. The stock has a market cap of $99.84 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 2.08 and a beta of 1.20. The business has a fifty day moving average of $455.43 and a 200-day moving average of $430.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10.

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

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 32.48%.

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.