American Century Companies Inc. Grows Stock Position in Trane Technologies plc $TT

Key Points

• American Century Companies Inc. increased its holdings in Trane Technologies by 44.5%, bringing its total to 130,116 shares worth approximately $43.8 million.
• Analysts have mixed ratings on Trane Technologies, with five rating it as "Buy" while ten maintain a "Hold" rating, and a consensus price target of $458.60.
• Trane Technologies recently declared a quarterly dividend of $0.94 per share, with an ex-dividend date of September 5th, representing an annual yield of 0.9%.

American Century Companies Inc. grew its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 44.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 130,116 shares of the company's stock after purchasing an additional 40,063 shares during the quarter. American Century Companies Inc. owned approximately 0.06% of Trane Technologies worth $43,839,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. WFA Asset Management Corp grew its holdings in shares of Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC bought a new position in shares of Trane Technologies in the fourth quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Trane Technologies in the fourth quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in shares of Trane Technologies in the first quarter worth approximately $31,000. Finally, Bogart Wealth LLC lifted its stake in Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after acquiring an additional 46 shares during the period. Institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

TT has been the subject of a number of research analyst reports. Robert W. Baird raised their price target on Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. UBS Group raised 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. Royal Bank Of Canada raised their price objective on Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. HSBC lowered Trane Technologies from a "buy" rating to a "hold" rating and raised their price objective for the company from $415.00 to $460.00 in a research report on Thursday, July 31st. Finally, Wells Fargo & Company raised their price objective on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Five equities 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 MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $458.60.

Trane Technologies Stock Up 0.4%

Shares of TT traded up $1.6490 during trading hours on Friday, hitting $423.9190. The company had a trading volume of 1,010,344 shares, compared to its average volume of 1,307,055. The firm has a fifty day moving average price of $435.64 and a 200-day moving average price of $393.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The stock has a market capitalization of $94.33 billion, a price-to-earnings ratio of 33.62, a P/E/G ratio of 2.64 and a beta of 1.09. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last posted 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. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.Trane Technologies's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is presently 29.82%.

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.