Trane Technologies plc $TT Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc has significantly reduced its stake in Trane Technologies by 50.5% during the first quarter, leaving it with 370,278 shares valued at approximately $123.33 million.
• Trane Technologies recently announced a quarterly dividend of $0.94 per share, representing a yield of 0.9%, which will be paid out at the end of September.
• The company's stock has shown a 1.4% decline recently, with a current market cap of $95.44 billion and a twelve-month price range between $298.15 and $476.18.

Aberdeen Group plc trimmed its stake in Trane Technologies plc (NYSE:TT - Free Report) by 50.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,278 shares of the company's stock after selling 377,761 shares during the period. Aberdeen Group plc owned 0.17% of Trane Technologies worth $123,328,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Csenge Advisory Group increased its stake in shares of Trane Technologies by 0.6% in the 1st quarter. Csenge Advisory Group now owns 3,944 shares of the company's stock worth $1,314,000 after purchasing an additional 25 shares in the last quarter. Fiera Capital Corp increased its stake in Trane Technologies by 1.4% in the 1st quarter. Fiera Capital Corp now owns 1,930 shares of the company's stock worth $650,000 after buying an additional 27 shares in the last quarter. Bingham Private Wealth LLC increased its stake in Trane Technologies by 3.2% in the 1st quarter. Bingham Private Wealth LLC now owns 944 shares of the company's stock worth $318,000 after buying an additional 29 shares in the last quarter. Tradewinds Capital Management LLC increased its stake in Trane Technologies by 46.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock worth $32,000 after buying an additional 30 shares in the last quarter. Finally, Smith Group Asset Management LLC increased its stake in Trane Technologies by 1.2% in the 1st quarter. Smith Group Asset Management LLC now owns 2,610 shares of the company's stock worth $879,000 after buying an additional 30 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on TT. The Goldman Sachs Group increased their price target on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Citigroup increased their price objective on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a report on Monday, July 14th. Robert W. Baird increased their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a report on Thursday, May 1st. Finally, Royal Bank Of Canada increased their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $458.60.

Trane Technologies Stock Down 0.1%

TT stock traded down $0.4810 during trading on Tuesday, hitting $428.3990. 753,362 shares of the company's stock traded hands, compared to its average volume of 1,461,531. The firm has a market capitalization of $95.32 billion, a P/E ratio of 33.97, a PEG ratio of 2.64 and a beta of 1.09. The business has a fifty day simple moving average of $435.42 and a two-hundred day simple moving average of $392.33. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (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 for the quarter, compared to analyst estimates of $5.77 billion. During the same period in the previous year, the company earned $3.30 earnings per share. The business's revenue for the quarter was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. Trane Technologies's payout ratio is currently 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.