Arrowstreet Capital Limited Partnership Buys 34,832 Shares of Trane Technologies plc (NYSE:TT)

Arrowstreet Capital Limited Partnership grew its stake in shares of Trane Technologies plc (NYSE:TT) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,082,753 shares of the company’s stock after buying an additional 34,832 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.48% of Trane Technologies worth $399,915,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tidal Investments LLC grew its position in Trane Technologies by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after acquiring an additional 2,874 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after purchasing an additional 1,271 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Trane Technologies in the fourth quarter valued at approximately $468,000. HB Wealth Management LLC increased its stake in shares of Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after buying an additional 711 shares during the period. Finally, Crossmark Global Holdings Inc. raised its holdings in Trane Technologies by 31.2% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock valued at $10,733,000 after buying an additional 6,910 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the transaction, the chief financial officer now owns 63,841 shares in the company, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Melius Research restated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Barclays lowered their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a report on Tuesday, January 28th. Citigroup decreased their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Royal Bank of Canada lifted their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $413.69.

Trane Technologies Trading Down 4.3 %

TT opened at $331.69 on Friday. The company has a fifty day moving average price of $357.83 and a two-hundred day moving average price of $379.96. Trane Technologies plc has a 1-year low of $286.32 and a 1-year high of $422.00. The company has a market cap of $74.40 billion, a P/E ratio of 29.48, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

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

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. This is a boost 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 1.13%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

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.