Bank OZK Boosts Holdings in Trane Technologies plc $TT

Key Points

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Bank OZK boosted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 19.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,230 shares of the company's stock after buying an additional 1,342 shares during the quarter. Trane Technologies accounts for approximately 1.2% of Bank OZK's investment portfolio, making the stock its 24th largest position. Bank OZK's holdings in Trane Technologies were worth $2,773,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Csenge Advisory Group boosted its position 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 in the last quarter. Fiera Capital Corp boosted its position in Trane Technologies by 1.4% in the 1st quarter. Fiera Capital Corp now owns 1,930 shares of the company's stock worth $650,000 after purchasing an additional 27 shares in the last quarter. Bingham Private Wealth LLC boosted its position in Trane Technologies by 3.2% in the 1st quarter. Bingham Private Wealth LLC now owns 944 shares of the company's stock worth $318,000 after purchasing an additional 29 shares in the last quarter. Tradewinds Capital Management LLC boosted its position in Trane Technologies by 46.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock worth $32,000 after purchasing an additional 30 shares in the last quarter. Finally, Smith Group Asset Management LLC boosted its position in Trane Technologies by 1.2% in the 1st quarter. Smith Group Asset Management LLC now owns 2,610 shares of the company's stock worth $879,000 after purchasing an additional 30 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

TT opened at $429.20 on Tuesday. The firm has a market capitalization of $95.50 billion, a PE ratio of 34.04, a PEG ratio of 2.64 and a beta of 1.09. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The firm's 50-day moving average price is $435.42 and its 200 day moving average price is $392.33. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

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 for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. Trane Technologies's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.30 earnings per share. As a group, 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 declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies's payout ratio is presently 29.82%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TT. Robert W. Baird increased their target price on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Hsbc Global Res cut shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. 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 lifted their price target on shares of Trane Technologies from $480.00 to $495.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Trane Technologies currently has a consensus rating of "Hold" and a consensus price target of $458.60.

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.

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