DE Burlo Group Inc. Decreases Stake in Trane Technologies plc (NYSE:TT)

Key Points

• DE Burlo Group Inc. reduced its stake in Trane Technologies plc by 9.7%, holding 40,950 shares valued at approximately $13.80 million.
• Trane Technologies recently reported an EPS of $2.45 for the quarter, exceeding expectations, and saw revenue of $4.69 billion, an increase of 11.2% year-over-year.
• The company is set to pay a quarterly dividend of $0.94 per share on September 30th, with a current annualized yield of 0.80%.

DE Burlo Group Inc. decreased its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 9.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 40,950 shares of the company's stock after selling 4,400 shares during the period. Trane Technologies accounts for about 2.0% of DE Burlo Group Inc.'s portfolio, making the stock its 22nd largest position. DE Burlo Group Inc.'s holdings in Trane Technologies were worth $13,797,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TT. Csenge Advisory Group grew its position in Trane Technologies by 0.6% during 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 during the last quarter. Bingham Private Wealth LLC lifted its stake in Trane Technologies by 3.2% during the 1st quarter. Bingham Private Wealth LLC now owns 944 shares of the company's stock valued at $318,000 after acquiring an additional 29 shares during the period. Quadrant Capital Group LLC increased its holdings in Trane Technologies by 0.8% in the fourth quarter. Quadrant Capital Group LLC now owns 3,786 shares of the company's stock valued at $1,398,000 after buying an additional 30 shares in the last quarter. Tradewinds Capital Management LLC increased its holdings in Trane Technologies by 46.2% in the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after buying an additional 30 shares in the last quarter. Finally, Smith Group Asset Management LLC increased its holdings in Trane Technologies by 1.2% in the first quarter. Smith Group Asset Management LLC now owns 2,610 shares of the company's stock valued at $879,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Down 7.8%

TT stock traded down $36.62 during midday trading on Wednesday, reaching $434.37. 1,963,456 shares of the company were exchanged, compared to its average volume of 1,484,152. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The stock's 50-day simple moving average is $434.83 and its 200 day simple moving average is $387.49. The company has a market cap of $96.87 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 3.07 and a beta of 1.15.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $3.30 earnings per share. On average, equities analysts forecast 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. Investors 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 yield of 0.87%. Trane Technologies's dividend payout ratio (DPR) is 31.28%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. UBS Group boosted their price target on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and upped their price objective for the company from $405.00 to $415.00 in a report on Friday, April 25th. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a research note on Thursday, May 1st. The Goldman Sachs Group increased their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, Barclays increased their price target on shares of Trane Technologies from $476.00 to $480.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $441.40.

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.