Arcadia Investment Management Corp MI Buys 242 Shares of Trane Technologies plc (NYSE:TT)

Arcadia Investment Management Corp MI raised its stake in shares of Trane Technologies plc (NYSE:TT) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,476 shares of the company’s stock after purchasing an additional 242 shares during the quarter. Trane Technologies accounts for about 1.4% of Arcadia Investment Management Corp MI’s holdings, making the stock its 25th biggest holding. Arcadia Investment Management Corp MI’s holdings in Trane Technologies were worth $9,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC lifted its holdings in shares of Trane Technologies by 35,914.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after acquiring an additional 1,640,569 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Trane Technologies by 35.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after acquiring an additional 671,691 shares during the last quarter. FMR LLC lifted its holdings in shares of Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after acquiring an additional 397,537 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after acquiring an additional 293,916 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Trane Technologies by 76.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company’s stock worth $162,175,000 after acquiring an additional 181,335 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TT shares. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a report on Tuesday, January 28th. Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Wells Fargo & Company lowered their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Finally, Barclays upped their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average price target of $415.25.

Trane Technologies Stock Down 1.0 %

Shares of Trane Technologies stock opened at $366.74 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $375.72 and its two-hundred day simple moving average is $379.16. The company has a market cap of $82.26 billion, a P/E ratio of 32.60, a PEG ratio of 2.53 and a beta of 1.05. Trane Technologies plc has a 12-month low of $274.77 and a 12-month high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.03%. Trane Technologies’s dividend payout ratio is currently 29.87%.

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. This represents a 25.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the sale, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock valued at $4,388,966 in the last three months. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.