Worldquant Millennium Advisors LLC Purchases 8,432 Shares of Trane Technologies plc (NYSE:TT)

Worldquant Millennium Advisors LLC increased its position in shares of Trane Technologies plc (NYSE:TT) by 2.7% during the 4th quarter, Holdings Channel reports. The fund owned 324,311 shares of the company’s stock after buying an additional 8,432 shares during the quarter. Trane Technologies accounts for about 0.8% of Worldquant Millennium Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. Worldquant Millennium Advisors LLC’s holdings in Trane Technologies were worth $119,784,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Woodline Partners LP boosted its stake in Trane Technologies by 1,033.6% during the 4th quarter. Woodline Partners LP now owns 50,141 shares of the company’s stock worth $18,520,000 after acquiring an additional 45,718 shares during the last quarter. iSAM Funds UK Ltd bought a new position in Trane Technologies during the 4th quarter worth approximately $553,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Trane Technologies during the 4th quarter worth approximately $28,000. Sone Capital Management LLC acquired a new stake in Trane Technologies during the 4th quarter worth approximately $11,146,000. Finally, Twinbeech Capital LP acquired a new stake in Trane Technologies during the 4th quarter worth approximately $4,459,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on TT shares. Stephens upgraded shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a report on Friday. Melius downgraded shares of 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. HSBC upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Finally, Melius Research restated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $425.47.

Trane Technologies Price Performance

NYSE TT opened at $431.02 on Tuesday. 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 12-month low of $298.15 and a 12-month high of $431.69. The company has a market capitalization of $96.13 billion, a PE ratio of 38.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The firm’s 50 day moving average is $359.88 and its 200-day moving average is $373.83.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.94 earnings per share. Equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 0.87%. Trane Technologies’s payout ratio is 31.28%.

About Trane Technologies

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.