AGF Management Ltd. Has $12.85 Million Position in Trane Technologies plc (NYSE:TT)

Key Points

• AGF Management Ltd. has reduced its stake in Trane Technologies plc by 9% in the first quarter, holding 38,135 shares valued at approximately $12.85 million at the end of the reporting period.
• Trane Technologies' shares have seen a slight decline of 0.4%, with current trading around $428.22, and its market cap stands at $95.28 billion.
• The company recently announced a quarterly dividend of $0.94 per share, with a reported annual yield of 0.9%, set to be paid on September 30th.

AGF Management Ltd. lowered its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 9.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,135 shares of the company's stock after selling 3,750 shares during the quarter. AGF Management Ltd.'s holdings in Trane Technologies were worth $12,848,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Csenge Advisory Group boosted its stake in 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 during the period. Fiera Capital Corp raised its stake in shares of Trane Technologies by 1.4% in the 1st quarter. Fiera Capital Corp now owns 1,930 shares of the company's stock valued at $650,000 after purchasing an additional 27 shares during the period. Bingham Private Wealth LLC lifted its holdings in shares of Trane Technologies by 3.2% in the first quarter. Bingham Private Wealth LLC now owns 944 shares of the company's stock valued at $318,000 after purchasing an additional 29 shares in the last quarter. Tradewinds Capital Management LLC boosted its position in shares of Trane Technologies by 46.2% during the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock worth $32,000 after buying an additional 30 shares during the period. Finally, Smith Group Asset Management LLC grew its holdings in shares of Trane Technologies by 1.2% during the first 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 owned by institutional investors.

Trane Technologies Trading Down 0.8%

TT traded down $3.65 during trading on Wednesday, reaching $435.30. 1,182,293 shares of the company's stock were exchanged, compared to its average volume of 1,352,713. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $96.86 billion, a PE ratio of 34.52, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09. The firm has a fifty day moving average price of $435.54 and a two-hundred day moving average price of $390.67.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm 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 firm posted $3.30 EPS. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio is currently 29.82%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TT shares. The Goldman Sachs Group raised their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Morgan Stanley lifted their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Barclays increased their price objective on shares of Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Northcoast Research downgraded shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada increased their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Trane Technologies currently has a consensus rating of "Hold" and an average target price of $458.60.

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.