Corebridge Financial Inc. Reduces Stock Holdings in Trane Technologies plc $TT

Key Points

• Corebridge Financial Inc. reduced its holdings in Trane Technologies plc by 4.2%, owning 54,741 shares worth approximately $18.44 million after selling 2,405 shares in the 1st quarter.
• Major institutional investors, including Vanguard Group Inc. and JPMorgan Chase & Co., have increased their stakes in Trane Technologies during the same period, indicating strong interest in the company.
• Trane Technologies recently announced a quarterly dividend of $0.94 per share, translating to an annual yield of 0.9%, with a payout ratio of 29.82%.

Corebridge Financial Inc. trimmed its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,741 shares of the company's stock after selling 2,405 shares during the quarter. Corebridge Financial Inc.'s holdings in Trane Technologies were worth $18,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Trane Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company's stock worth $6,555,377,000 after buying an additional 221,206 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock worth $5,297,235,000 after buying an additional 1,408,421 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Trane Technologies by 7.2% during the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company's stock worth $1,208,044,000 after buying an additional 241,910 shares during the last quarter. Nuveen LLC purchased a new position in Trane Technologies during the 1st quarter worth $877,468,000. Finally, Northern Trust Corp grew its stake in Trane Technologies by 0.7% during the 1st quarter. Northern Trust Corp now owns 2,584,819 shares of the company's stock worth $870,877,000 after buying an additional 17,292 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Barclays increased their price objective on Trane Technologies from $480.00 to $495.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a report on Thursday, May 1st. Finally, Royal Bank Of Canada increased their price objective on Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $458.60.

Trane Technologies Stock Down 1.0%

Trane Technologies stock opened at $419.7770 on Tuesday. The firm has a market cap of $93.40 billion, a price-to-earnings ratio of 33.29, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The business's 50-day moving average price is $435.50 and its 200 day moving average price is $394.66. 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 (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 firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.Trane Technologies's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently announced 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 yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is 29.82%.

Trane Technologies Company 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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