Trane Technologies plc $TT Shares Sold by Aristotle Capital Management LLC

Aristotle Capital Management LLC reduced its stake in Trane Technologies plc (NYSE:TT) by 26.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 245,555 shares of the company’s stock after selling 88,000 shares during the period. Aristotle Capital Management LLC’s holdings in Trane Technologies were worth $102,333,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Entropy Technologies LP lifted its holdings in shares of Trane Technologies by 11.3% in the first quarter. Entropy Technologies LP now owns 42,227 shares of the company’s stock valued at $17,598,000 after buying an additional 4,282 shares during the period. Boreal Capital Management LLC grew its holdings in Trane Technologies by 477.8% during the first quarter. Boreal Capital Management LLC now owns 520 shares of the company’s stock worth $217,000 after acquiring an additional 430 shares during the period. Dai ichi Life Insurance Company Ltd raised its position in Trane Technologies by 57.6% in the first quarter. Dai ichi Life Insurance Company Ltd now owns 17,504 shares of the company’s stock worth $7,295,000 after acquiring an additional 6,394 shares in the last quarter. Gabelli Funds LLC raised its position in Trane Technologies by 0.5% in the first quarter. Gabelli Funds LLC now owns 77,816 shares of the company’s stock worth $32,429,000 after acquiring an additional 390 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in Trane Technologies by 1.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 16,984 shares of the company’s stock valued at $7,078,000 after acquiring an additional 184 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TT shares. KeyCorp lifted their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Evercore assumed coverage on shares of Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 target price for the company. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Friday, July 17th. BNP Paribas Exane began coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price target on the stock. Finally, Royal Bank Of Canada increased their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $516.67.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction that occurred on 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 directly owned 3,819 shares of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $481.09 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a one year low of $348.06 and a one year high of $505.87. The business’s 50-day moving average price is $470.13 and its two-hundred day moving average price is $449.87. The company has a market capitalization of $106.35 billion, a P/E ratio of 37.21, a price-to-earnings-growth ratio of 2.21 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The company had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $2.45 EPS. Analysts anticipate that Trane Technologies plc will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 dividend on an annualized basis and a 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.