Aristotle Capital Management LLC Has $128 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Aristotle Capital Management LLC reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 11.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 346,555 shares of the company’s stock after selling 43,000 shares during the quarter. Aristotle Capital Management LLC owned 0.15% of Trane Technologies worth $128,000,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Sound Income Strategies LLC grew its stake in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $37,000. Golden State Wealth Management LLC bought a new position in Trane Technologies in the fourth quarter valued at approximately $39,000. BankPlus Trust Department acquired a new position in Trane Technologies during the fourth quarter valued at approximately $45,000. Finally, Centricity Wealth Management LLC bought a new stake in Trane Technologies during the fourth quarter worth $55,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,805 shares of company stock valued at $3,945,082 over the last quarter. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $399.68 on Friday. The company has a market capitalization of $89.64 billion, a price-to-earnings ratio of 35.53, a PEG ratio of 2.50 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $422.00. The stock has a fifty day simple moving average of $344.26 and a 200 day simple moving average of $372.20.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.94 earnings per share. Sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TT. Robert W. Baird lifted their price target on Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank of Canada boosted their target price on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research note on Thursday. Stephens upgraded shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target on the stock in a research note on Thursday. UBS Group decreased their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Wells Fargo & Company raised their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $421.07.

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.