Quantinno Capital Management LP Grows Stock Position in Trane Technologies plc (NYSE:TT)

Quantinno Capital Management LP grew its stake in Trane Technologies plc (NYSE:TT) by 39.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,291 shares of the company’s stock after buying an additional 4,300 shares during the quarter. Quantinno Capital Management LP’s holdings in Trane Technologies were worth $5,648,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Minot DeBlois Advisors LLC acquired a new position in Trane Technologies in the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC increased its holdings in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after purchasing an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $37,000. Golden State Wealth Management LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $39,000. Finally, BankPlus Trust Department purchased a new stake in Trane Technologies during the fourth quarter worth $45,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT opened at $429.20 on Friday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $429.40. The company has a market cap of $95.72 billion, a P/E ratio of 38.15, a P/E/G ratio of 2.50 and a beta of 1.14. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average price is $358.06 and its 200-day moving average price is $373.43.

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 the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the previous year, the firm posted $1.94 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Friday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.28%.

Analyst Ratings Changes

A number of brokerages have weighed in on TT. Wells Fargo & Company upped their price objective 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. HSBC raised Trane Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $405.00 to $415.00 in a report on Friday, April 25th. UBS Group dropped their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Stephens raised Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price for the company in a research note on Thursday, May 1st. Finally, Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research note 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 issued a strong buy rating to the company. According to data from MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $425.47.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction that occurred 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 sale, the insider now owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.38% of the company’s stock.

Trane Technologies 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.