Arrowstreet Capital Limited Partnership Has $310.88 Million Position in Trane Technologies plc $TT

Arrowstreet Capital Limited Partnership cut its holdings in Trane Technologies plc (NYSE:TT) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 736,757 shares of the company’s stock after selling 61,850 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.33% of Trane Technologies worth $310,882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TT. Aptus Capital Advisors LLC raised its holdings in shares of Trane Technologies by 169.8% during the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock valued at $6,219,000 after purchasing an additional 9,276 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Trane Technologies in the 3rd quarter valued at about $6,571,000. Nordea Investment Management AB increased its position in Trane Technologies by 2.4% in the 3rd quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock valued at $1,051,049,000 after buying an additional 57,774 shares in the last quarter. Boston Common Asset Management LLC acquired a new position in Trane Technologies during the 3rd quarter worth approximately $9,546,000. Finally, Compass Wealth Management LLC boosted its holdings in Trane Technologies by 3,785.4% in the third quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock worth $11,476,000 after acquiring an additional 26,498 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Trane Technologies stock opened at $421.53 on Friday. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37. The company’s 50 day moving average price is $425.78 and its two-hundred day moving average price is $417.23. The stock has a market cap of $93.30 billion, a P/E ratio of 32.48, a P/E/G ratio of 2.28 and a beta of 1.19. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.Trane Technologies’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.61 earnings per share. On average, equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a $1.05 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. Trane Technologies’s dividend payout ratio is currently 32.36%.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 3,762 shares of Trane Technologies stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the sale, the insider directly owned 3,819 shares in the company, valued at $1,614,291.30. The trade was a 49.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 2,389 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the completion of the transaction, the chief financial officer directly owned 60,486 shares in the company, valued at $27,986,872.20. This trade represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 49,378 shares of company stock valued at $21,228,464. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of research reports. Morgan Stanley reduced their price objective on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Oppenheimer increased their target price on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Barclays upped their price objective on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $484.67.

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.