Credit Agricole S A Purchases 59,291 Shares of Trane Technologies plc $TT

Key Points

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Credit Agricole S A raised its position in Trane Technologies plc (NYSE:TT - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 356,319 shares of the company's stock after purchasing an additional 59,291 shares during the period. Credit Agricole S A owned 0.16% of Trane Technologies worth $120,051,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TT. Nuveen LLC bought a new position in Trane Technologies in the 1st quarter valued at $877,468,000. GAMMA Investing LLC lifted its holdings in shares of Trane Technologies by 35,458.2% during the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock worth $679,161,000 after acquiring an additional 2,010,123 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Trane Technologies by 245.1% during the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company's stock worth $722,493,000 after acquiring an additional 1,522,933 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 1,408,421 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of 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 during the last quarter. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TT shares. Citigroup lifted their price objective on shares of Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Hsbc Global Res downgraded shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a report on Thursday, May 1st. Finally, HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $415.00 to $460.00 in a 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. According to data from MarketBeat.com, Trane Technologies has a consensus rating of "Hold" and an average target price of $458.60.

Trane Technologies Price Performance

TT stock opened at $429.20 on Tuesday. The firm's 50-day moving average price is $435.42 and its two-hundred day moving average price is $392.33. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The stock has a market capitalization of $95.50 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 2.64 and a beta of 1.09. 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 released its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $5.77 billion. During the same quarter in the previous year, the company earned $3.30 earnings per share. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

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

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