Assetmark Inc. reduced its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 4.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,689 shares of the company's stock after selling 770 shares during the quarter. Assetmark Inc.'s holdings in Trane Technologies were worth $6,297,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Trane Technologies by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock worth $1,760,549,000 after acquiring an additional 136,349 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Trane Technologies by 4.1% during the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock worth $1,234,908,000 after buying an additional 130,867 shares during the period. Northern Trust Corp grew its holdings in Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after acquiring an additional 429,953 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Trane Technologies by 1.6% in the 4th quarter. Nuveen Asset Management LLC now owns 2,332,626 shares of the company's stock valued at $861,555,000 after buying an additional 37,389 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Trane Technologies by 8.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,319,287 shares of the company's stock valued at $856,629,000 after buying an additional 177,206 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Citigroup boosted their price target on shares of Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada boosted their price target on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. Finally, Robert W. Baird boosted their target price on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $444.40.
Get Our Latest Report on Trane Technologies
Trane Technologies Stock Up 1.8%
TT traded up $7.59 on Thursday, reaching $439.03. 703,908 shares of the company traded hands, compared to its average volume of 1,489,360. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The company has a market cap of $97.91 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 3.06 and a beta of 1.15. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The stock's 50 day moving average price is $434.98 and its 200-day moving average price is $387.79.
Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.79 by $0.09. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.30 earnings per share. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.
Trane Technologies Announces Dividend
The company 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 dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio is currently 31.28%.
About Trane Technologies
(
Free Report)
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.
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