Arrowstreet Capital Limited Partnership Has $308.50 Million Holdings in Trane Technologies plc $TT

Arrowstreet Capital Limited Partnership decreased its holdings in shares of Trane Technologies plc (NYSE:TT) by 18.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 740,272 shares of the company’s stock after selling 168,785 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Trane Technologies were worth $308,501,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in Trane Technologies by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock valued at $7,791,909,000 after acquiring an additional 192,270 shares during the last quarter. State Street Corp increased its holdings in Trane Technologies by 0.6% in the fourth 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 lifted its stake in Trane Technologies by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock valued at $1,964,896,000 after buying an additional 14,179 shares during the period. Norges Bank bought a new position in Trane Technologies during the fourth quarter worth about $1,163,124,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Trane Technologies by 0.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,340,219 shares of the company’s stock worth $910,813,000 after buying an additional 7,537 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Price Performance

Shares of TT stock opened at $481.09 on Friday. The company has a market cap of $106.35 billion, a P/E ratio of 37.21, a P/E/G ratio of 2.21 and a beta of 1.19. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $470.13 and a 200 day simple moving average of $449.87. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.45 EPS. On average, sell-side analysts forecast that Trane Technologies plc will post 14.89 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TT. BNP Paribas Exane initiated coverage on Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Friday, July 17th. KeyCorp raised their price target on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Evercore started coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective on the stock. Finally, Barclays raised their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $516.67.

Trane Technologies 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.