Aquatic Capital Management LLC Raises Holdings in Trane Technologies plc (NYSE:TT)

Aquatic Capital Management LLC lifted its stake in Trane Technologies plc (NYSE:TT) by 144.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,010 shares of the company’s stock after acquiring an additional 31,290 shares during the quarter. Aquatic Capital Management LLC’s holdings in Trane Technologies were worth $19,579,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

TT has been the subject of several analyst reports. Melius Research reissued a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Barclays lowered their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. JPMorgan Chase & Co. cut their price target on Trane Technologies from $396.00 to $323.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. HSBC upgraded 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 report on Friday. Finally, Hsbc Global Res upgraded Trane Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus target price of $405.94.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction 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. The trade was a 2.03 % 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 company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock valued at $2,588,102 over the last ninety days. 0.38% of the stock is owned by insiders.

Trane Technologies Stock Up 1.5 %

Shares of TT opened at $348.23 on Friday. The business’s 50 day simple moving average is $342.38 and its 200-day simple moving average is $373.00. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $422.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The stock has a market capitalization of $78.10 billion, a price-to-earnings ratio of 30.95, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, equities analysts expect 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 $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 1.08%. Trane Technologies’s dividend payout ratio 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.