Arrowstreet Capital Limited Partnership Buys 172,300 Shares of Trane Technologies plc $TT

Arrowstreet Capital Limited Partnership raised its stake in Trane Technologies plc (NYSE:TT) by 23.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 909,057 shares of the company’s stock after purchasing an additional 172,300 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Trane Technologies were worth $353,805,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Aptus Capital Advisors LLC boosted its holdings in Trane Technologies by 169.8% in the 3rd quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock valued at $6,219,000 after purchasing an additional 9,276 shares during the period. Nordea Investment Management AB boosted its holdings in 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 period. Farther Finance Advisors LLC lifted its holdings in shares of Trane Technologies by 64.0% during the 4th quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock worth $2,911,000 after acquiring an additional 2,917 shares during the period. Dara Capital US Inc. bought a new position in shares of Trane Technologies during the 4th quarter worth about $966,000. Finally, Korea Investment CORP lifted its holdings in shares of Trane Technologies by 17.5% during the 3rd quarter. Korea Investment CORP now owns 204,695 shares of the company’s stock worth $86,373,000 after acquiring an additional 30,558 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other Trane Technologies news, 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 completion of the sale, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares of the company’s stock, valued at $27,259,200. The trade was a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Trane Technologies Trading Down 0.1%

TT opened at $457.69 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $101.17 billion, a PE ratio of 35.40, a PEG ratio of 2.11 and a beta of 1.20. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $503.47. The firm has a 50-day moving average price of $463.44 and a two-hundred day moving average price of $433.30.

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

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is presently 32.48%.

Analyst Ratings Changes

A number of equities analysts have recently commented on TT shares. Barclays raised their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Evercore started coverage on shares of Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective for the company. Royal Bank Of Canada raised their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Finally, KeyCorp raised their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $509.12.

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.