Brentview Investment Management LLC Has $6.76 Million Stock Position in Trane Technologies plc (NYSE:TT)

Key Points

• Brentview Investment Management LLC increased its holdings in Trane Technologies plc by 6.4% in the 1st quarter, now owning 20,061 shares valued at approximately $6.76 million.
• Several hedge funds, including Geode Capital Management and Ameriprise Financial, have also boosted their stakes in Trane Technologies, signaling strong institutional interest with 82.97% of the company's stock now held by institutional investors.
• Trane Technologies recently announced a quarterly dividend of $0.94 per share, representing an annual yield of 0.87% and a payout ratio of 31.28%.

Brentview Investment Management LLC raised its stake in Trane Technologies plc (NYSE:TT - Free Report) by 6.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,061 shares of the company's stock after buying an additional 1,211 shares during the period. Trane Technologies makes up approximately 3.6% of Brentview Investment Management LLC's holdings, making the stock its 5th largest holding. Brentview Investment Management LLC's holdings in Trane Technologies were worth $6,759,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in TT. WFA Asset Management Corp boosted its holdings in shares of Trane Technologies by 208.3% in the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Trane Technologies in the 1st quarter valued at $31,000. Finally, Bogart Wealth LLC raised its stake in shares of Trane Technologies by 97.9% in the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after acquiring an additional 46 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TT shares. Citigroup lifted their price target on shares of Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. HSBC downgraded 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 research note on Thursday. Barclays boosted their target price on shares of Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a research report on Thursday. UBS Group boosted their target price on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. 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 research report on Thursday, July 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Trane Technologies presently has an average rating of "Hold" and an average price target of $455.67.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded up $0.93 during mid-day trading on Friday, reaching $439.01. 1,527,204 shares of the stock were exchanged, compared to its average volume of 1,257,080. The company has a market cap of $97.68 billion, a price-to-earnings ratio of 35.68, a price-to-earnings-growth ratio of 2.83 and a beta of 1.09. The company has a current ratio of 1.10, a quick ratio of 0.74 and a debt-to-equity ratio of 0.50. The firm has a 50-day simple moving average of $435.56 and a 200 day simple moving average of $388.61. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the prior year, the firm earned $3.30 EPS. The company's revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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