Trane Technologies plc (NYSE:TT) Stock Position Lifted by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 2.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 324,311 shares of the company’s stock after purchasing an additional 8,432 shares during the period. Trane Technologies comprises approximately 0.8% of Worldquant Millennium Advisors LLC’s holdings, making the stock its 22nd largest position. Worldquant Millennium Advisors LLC owned approximately 0.14% of Trane Technologies worth $119,784,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Woodline Partners LP lifted its stake in Trane Technologies by 1,033.6% in the fourth quarter. Woodline Partners LP now owns 50,141 shares of the company’s stock valued at $18,520,000 after acquiring an additional 45,718 shares during the last quarter. iSAM Funds UK Ltd acquired a new position in Trane Technologies during the 4th quarter valued at $553,000. Vermillion & White Wealth Management Group LLC acquired a new position in Trane Technologies during the 4th quarter valued at $28,000. Sone Capital Management LLC acquired a new position in Trane Technologies during the 4th quarter valued at $11,146,000. Finally, Twinbeech Capital LP acquired a new position in shares of Trane Technologies in the 4th quarter valued at $4,459,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Donald E. Simmons sold 3,571 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider now owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on shares of Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. Barclays dropped their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Wells Fargo & Company increased their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a research report on Thursday, May 1st. Finally, Stephens upgraded shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price for the company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $425.47.

Trane Technologies Stock Up 0.4%

Shares of NYSE:TT opened at $431.02 on Tuesday. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $431.69. The company’s 50-day moving average price is $359.88 and its two-hundred day moving average price is $373.83. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The firm has a market cap of $96.13 billion, a P/E ratio of 38.31, a P/E/G ratio of 2.50 and a beta of 1.14.

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

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.28%.

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.