Aristotle Atlantic Partners LLC Lowers Stock Position in Trane Technologies plc $TT

Aristotle Atlantic Partners LLC cut its stake in shares of Trane Technologies plc (NYSE:TT) by 4.6% in the 1st quarter, HoldingsChannel reports. The firm owned 101,047 shares of the company’s stock after selling 4,848 shares during the period. Trane Technologies makes up 2.0% of Aristotle Atlantic Partners LLC’s portfolio, making the stock its 14th biggest position. Aristotle Atlantic Partners LLC’s holdings in Trane Technologies were worth $42,110,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Trane Technologies by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock valued at $7,791,909,000 after buying an additional 192,270 shares in the last quarter. State Street Corp increased its stake 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 acquiring an additional 61,393 shares during the last quarter. Geode Capital Management LLC raised its position in Trane Technologies by 0.3% during 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 purchasing an additional 14,179 shares in the last quarter. Norges Bank bought a new stake 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 shares of Trane Technologies by 0.3% in the 4th 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 purchasing an additional 7,537 shares in 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 completion of the transaction, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. This represents a 54.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TT. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Friday, July 17th. BNP Paribas Exane started coverage on Trane Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. KeyCorp boosted 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. Finally, Evercore initiated coverage on shares of Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Trane Technologies currently has an average rating of “Moderate Buy” and an average target price of $516.67.

Trane Technologies Trading Up 0.3%

Shares of TT stock opened at $481.09 on Friday. The business has a 50-day moving average of $470.13 and a 200 day moving average of $449.87. 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 1-year low of $348.06 and a 1-year high of $505.87. The stock has a market capitalization of $106.34 billion, a PE ratio of 37.21, a P/E/G ratio of 2.21 and a beta of 1.19.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping 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 business had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same period in the previous year, the firm earned $2.45 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Trane Technologies plc will post 14.89 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

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.