APG Asset Management N.V. Cuts Stock Holdings in Trane Technologies plc $TT

Key Points

• APG Asset Management N.V. has reduced its stake in Trane Technologies plc by 5.7%, now holding 143,617 shares valued at approximately $44.8 million.
• Several other institutions, including Smartleaf Asset Management and Groupe la Francaise, have increased their holdings in Trane Technologies, reflecting a strong interest from hedge funds and institutional investors.
• Trane Technologies reported an EPS of $3.88 for the last quarter, exceeding expectations, and has announced a quarterly dividend of $0.94 to be paid on September 30th.

APG Asset Management N.V. lessened its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 5.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 143,617 shares of the company's stock after selling 8,678 shares during the period. APG Asset Management N.V. owned about 0.06% of Trane Technologies worth $44,795,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Trane Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company's stock worth $6,555,377,000 after purchasing an additional 221,206 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Trane Technologies by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock valued at $5,297,235,000 after purchasing an additional 1,408,421 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Trane Technologies by 7.2% in the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company's stock valued at $1,208,044,000 after purchasing an additional 241,910 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Trane Technologies during the 1st quarter valued at $877,468,000. Finally, Northern Trust Corp boosted its holdings in shares of Trane Technologies by 0.7% during the 1st quarter. Northern Trust Corp now owns 2,584,819 shares of the company's stock valued at $870,877,000 after acquiring an additional 17,292 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

TT has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. The Goldman Sachs Group boosted their target price on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Wells Fargo & Company boosted their price objective on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Northcoast Research lowered Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. Finally, Morgan Stanley boosted their target price 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 research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $458.60.

Trane Technologies Stock Performance

TT stock traded up $0.73 during midday trading on Thursday, reaching $424.92. 1,085,963 shares of the company's stock traded hands, compared to its average volume of 1,443,195. The company has a 50-day moving average price of $435.69 and a two-hundred day moving average price of $395.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The firm has a market capitalization of $94.55 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.66 and a beta of 1.09.

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 for the quarter, topping the consensus estimate of $3.79 by $0.09. The firm had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 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%.

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.