ASR Vermogensbeheer N.V. Purchases Shares of 137,849 Trane Technologies plc (NYSE:TT)

Key Points

• ASR Vermogensbeheer N.V. has acquired a new position in Trane Technologies plc, purchasing 137,849 shares valued at approximately $46.4 million, making it the firm's 27th biggest position.
• Recent changes in holdings by institutional investors indicate increased interest in Trane Technologies, with several firms like Minot DeBlois Advisors LLC and WFA Asset Management Corp making new investments.
• Analysts have varying opinions on Trane Technologies, with target prices increasing, including a boost from Morgan Stanley to $520.00, while the consensus rating remains at "Hold".

ASR Vermogensbeheer N.V. acquired a new stake in Trane Technologies plc (NYSE:TT - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 137,849 shares of the company's stock, valued at approximately $46,443,000. Trane Technologies makes up about 0.7% of ASR Vermogensbeheer N.V.'s holdings, making the stock its 27th biggest position. ASR Vermogensbeheer N.V. owned 0.06% of Trane Technologies at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Trane Technologies by 35,458.2% in the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock valued at $679,161,000 after purchasing an additional 2,010,123 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Trane Technologies by 20.1% during the fourth 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 in the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Trane Technologies by 27.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company's stock valued at $645,343,000 after acquiring an additional 410,734 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Trane Technologies during the 4th quarter valued at $147,251,000. Finally, BNP Paribas Financial Markets acquired a new position in Trane Technologies in the 4th quarter worth about $137,999,000. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TT. Northcoast Research downgraded Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. Robert W. Baird upped their price target on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. HSBC lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and lifted their price target for the stock from $415.00 to $460.00 in a report on Thursday, July 31st. UBS Group raised their target price on Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Barclays raised their price objective on Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $458.60.

Trane Technologies Stock Up 0.3%

NYSE:TT traded up $1.15 during trading hours on Thursday, reaching $428.18. The company had a trading volume of 790,605 shares, compared to its average volume of 1,358,816. The firm has a market cap of $95.28 billion, a price-to-earnings ratio of 33.96, a P/E/G ratio of 2.66 and a beta of 1.09. The business's 50-day simple moving average is $435.42 and its two-hundred day simple moving average is $389.74. 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 twelve month low of $298.15 and a twelve month 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, beating analysts' consensus estimates of $3.79 by $0.09. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.30 EPS. On average, equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 is Friday, September 5th. Trane Technologies's payout ratio 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.