Quantbot Technologies LP Has $674,000 Holdings in Trane Technologies plc $TT

Quantbot Technologies LP reduced its holdings in shares of Trane Technologies plc (NYSE:TT) by 78.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,598 shares of the company’s stock after selling 5,706 shares during the quarter. Quantbot Technologies LP’s holdings in Trane Technologies were worth $674,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd purchased a new stake in Trane Technologies in the third quarter worth $6,571,000. Nordea Investment Management AB lifted its position in shares of Trane Technologies by 2.4% during the 3rd quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock valued at $1,051,049,000 after buying an additional 57,774 shares during the last quarter. Boston Common Asset Management LLC bought a new position in shares of Trane Technologies during the 3rd quarter worth $9,546,000. Compass Wealth Management LLC increased its holdings in Trane Technologies by 3,785.4% in the 3rd quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock worth $11,476,000 after acquiring an additional 26,498 shares during the last quarter. Finally, Tred Avon Family Wealth LLC purchased a new stake in Trane Technologies in the 3rd quarter worth about $1,530,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 3.1%

Shares of Trane Technologies stock opened at $423.04 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $479.37. The firm has a market cap of $93.63 billion, a PE ratio of 32.59, a PEG ratio of 2.23 and a beta of 1.19. The company has a 50 day simple moving average of $422.75 and a two-hundred day simple moving average of $417.05.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter last year, the company posted $2.61 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s payout ratio is 28.97%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TT. Citigroup boosted their price target on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Morgan Stanley cut their price target on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. Finally, KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $484.67.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 5,588 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the completion of the sale, the chief executive officer directly owned 96,948 shares in the company, valued at $44,848,144.80. This represents a 5.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Donald E. Simmons sold 822 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.57, for a total value of $380,232.54. Following the transaction, the insider owned 3,819 shares in the company, valued at approximately $1,766,554.83. The trade was a 17.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,936 shares of company stock worth $4,133,991 in the last 90 days. 0.14% of the stock is owned by company insiders.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.