Aristotle Atlantic Partners LLC Trims Holdings in Trane Technologies plc $TT

Aristotle Atlantic Partners LLC trimmed its position in Trane Technologies plc (NYSE:TT) by 49.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,895 shares of the company’s stock after selling 104,450 shares during the quarter. Trane Technologies comprises approximately 1.9% of Aristotle Atlantic Partners LLC’s holdings, making the stock its 14th biggest position. Aristotle Atlantic Partners LLC’s holdings in Trane Technologies were worth $41,214,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TT. Norges Bank purchased a new position in shares of Trane Technologies in the fourth quarter valued at $1,163,124,000. Capital International Investors purchased a new position in shares of Trane Technologies in the fourth quarter valued at $324,639,000. Corient Private Wealth LLC grew its holdings in shares of Trane Technologies by 135.4% in the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock valued at $321,757,000 after purchasing an additional 423,090 shares in the last quarter. SG Americas Securities LLC lifted its position in Trane Technologies by 13,460.8% in the fourth quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock worth $164,828,000 after buying an additional 420,381 shares during the last quarter. Finally, Capital Research Global Investors bought a new stake in Trane Technologies in the fourth quarter worth $132,124,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

Shares of TT stock opened at $472.61 on Thursday. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47. The firm has a market capitalization of $104.47 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.19 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The stock’s 50-day simple moving average is $466.16 and its 200-day simple moving average is $434.44.

Trane Technologies (NYSE:TT) last issued its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating 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 firm had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same quarter in the prior year, the firm earned $2.45 earnings per share. Trane Technologies’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts forecast that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio is presently 32.48%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays raised their price target on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Sanford C. Bernstein started coverage on Trane Technologies in a research report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 target price for the company. Royal Bank Of Canada lifted their target price on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Citigroup lifted their target price on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Evercore started coverage on Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 target price for the company. Two analysts have 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $509.12.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction 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 directly owned 3,819 shares in the company, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. The transaction was disclosed in a document filed 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 stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the transaction, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

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.