Commonwealth Equity Services LLC Purchases 4,774 Shares of Trane Technologies plc (NYSE:TT)

Key Points

• Commonwealth Equity Services LLC increased its stake in Trane Technologies plc by 6.7% during the first quarter, acquiring an additional 4,774 shares, bringing its total holdings to 76,396 shares valued at approximately $25.7 million.
• Trane Technologies reported $3.88 earnings per share for the last quarter, exceeding the consensus estimate of $3.79, with a year-over-year revenue increase of 7.6%.
• The company declared a quarterly dividend of $0.94 per share, with an annualized dividend yield of 0.9%, scheduled for payment on September 30th.

Commonwealth Equity Services LLC lifted its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 6.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,396 shares of the company's stock after purchasing an additional 4,774 shares during the quarter. Commonwealth Equity Services LLC's holdings in Trane Technologies were worth $25,739,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TT. WFA Asset Management Corp raised its position in 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 buying an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in Trane Technologies in the 4th quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Trane Technologies in the 4th quarter valued at approximately $28,000. Opal Wealth Advisors LLC acquired a new stake in Trane Technologies in the 1st quarter valued at approximately $31,000. Finally, Bogart Wealth LLC raised its position in 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 buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TT shares. UBS Group lifted their target price on Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research report on Tuesday. Royal Bank Of Canada boosted their price target on Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Northcoast Research lowered Trane Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, August 1st. Finally, HSBC lowered Trane Technologies from a "buy" rating to a "hold" rating and boosted their price target for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned 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 Performance

Shares of NYSE TT traded up $1.15 during midday trading on Thursday, hitting $428.18. 790,605 shares of the company's stock were exchanged, compared to its average volume of 1,358,816. 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 12 month low of $298.15 and a 12 month high of $476.18. The company's 50 day moving average price is $435.42 and its 200 day moving average price is $389.74. The firm has a market capitalization of $95.28 billion, a PE ratio of 33.96, a price-to-earnings-growth ratio of 2.66 and a beta of 1.09.

Trane Technologies (NYSE:TT - Get Free Report) last issued 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 return on equity of 36.61% and a net margin of 13.76%. The firm'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 company posted $3.30 EPS. As a group, analysts predict that Trane Technologies plc will post 12.83 earnings per share 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 paid a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.9%. Trane Technologies's payout ratio is 29.82%.

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.