Trane Technologies plc (NYSE:TT) Shares Purchased by Aquatic Capital Management LLC

Aquatic Capital Management LLC boosted its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 144.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,010 shares of the company's stock after purchasing an additional 31,290 shares during the period. Aquatic Capital Management LLC's holdings in Trane Technologies were worth $19,579,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Trane Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock valued at $7,104,658,000 after acquiring an additional 152,353 shares during the last quarter. Geode Capital Management LLC increased its holdings in Trane Technologies by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after purchasing an additional 136,349 shares during the period. Norges Bank acquired a new stake in Trane Technologies in the fourth quarter valued at $1,117,816,000. Raymond James Financial Inc. acquired a new stake in Trane Technologies in the fourth quarter valued at $611,322,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Trane Technologies by 4.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,258,480 shares of the company's stock valued at $464,820,000 after purchasing an additional 55,515 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TT has been the subject of a number of recent research reports. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday. Wells Fargo & Company decreased their price objective on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a report on Friday, January 31st. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and boosted their price objective for the company from $405.00 to $415.00 in a research note on Friday. Melius Research reaffirmed a "hold" rating and set a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Finally, Citigroup cut their price target on Trane Technologies from $476.00 to $415.00 and set a "buy" rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of "Hold" and a consensus price target of $405.94.

Trane Technologies Stock Up 0.7 %

TT stock traded up $2.35 during trading on Tuesday, reaching $353.67. 1,733,861 shares of the company traded hands, compared to its average volume of 1,313,481. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $422.00. The business has a 50 day simple moving average of $342.00 and a 200 day simple moving average of $372.33. The company has a market capitalization of $79.32 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 yield of 1.06%. The ex-dividend date is Friday, June 6th. Trane Technologies's dividend payout ratio is currently 33.42%.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the transaction, the chief executive officer now directly owns 132,969 shares of the company's stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the sale, the chief financial officer now owns 63,841 shares of the company's stock, valued at $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by corporate 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.