1832 Asset Management L.P. Lowers Stock Holdings in Trane Technologies plc $TT

Key Points

• 1832 Asset Management L.P. reduced its holdings in Trane Technologies plc by 15.1%, selling 1,746 shares and now owning 9,803 shares valued at $3,303,000.
• Despite a recent dip in holdings, institutional investors still own 82.97% of the company's stock, illustrating a strong institutional interest in Trane Technologies.
• Trane Technologies reported $3.88 EPS for the last quarter, surpassing analyst estimates, with revenues increasing by 7.6% year-over-year, despite a slight shortfall compared to expectations.

1832 Asset Management L.P. reduced its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 15.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,803 shares of the company's stock after selling 1,746 shares during the quarter. 1832 Asset Management L.P.'s holdings in Trane Technologies were worth $3,303,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TT. Nuveen LLC acquired a new position in Trane Technologies during the 1st quarter worth approximately $877,468,000. GAMMA Investing LLC raised its stake in Trane Technologies by 35,458.2% during the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock worth $679,161,000 after buying an additional 2,010,123 shares during the period. Wellington Management Group LLP raised its stake in Trane Technologies by 245.1% during the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company's stock worth $722,493,000 after buying an additional 1,522,933 shares during the period. JPMorgan Chase & Co. raised its stake in Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock worth $5,297,235,000 after buying an additional 1,408,421 shares during the period. Finally, Northern Trust Corp raised its stake in Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after buying an additional 429,953 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TT. UBS Group upped their price target on Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. The Goldman Sachs Group increased their price objective on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Northcoast Research downgraded Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. Finally, Morgan Stanley increased their price objective on Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Trane Technologies presently has an average rating of "Hold" and a consensus target price of $458.60.

Trane Technologies Stock Down 0.4%

TT traded down $1.65 on Wednesday, hitting $424.54. The company had a trading volume of 1,144,385 shares, compared to its average volume of 1,225,347. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The stock has a fifty day simple moving average of $435.69 and a 200-day simple moving average of $395.09. The firm has a market capitalization of $94.46 billion, a P/E ratio of 33.67, a P/E/G ratio of 2.66 and a beta of 1.09.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same period last year, the business posted $3.30 earnings per share. Trane Technologies's quarterly revenue was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, equities analysts expect 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 Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is presently 29.82%.

About Trane Technologies

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.