Dimensional Fund Advisors LP Boosts Position in Trane Technologies plc $TT

Key Points

• Dimensional Fund Advisors LP has increased its stake in Trane Technologies plc by 0.5%, now holding approximately 797,692 shares valued at $268.7 million.
• Additionally, several hedge funds have significantly raised their stakes in Trane Technologies, with Brighton Jones LLC leading with a 60% increase in holdings.
• Trane Technologies recently declared a quarterly dividend of $0.94 per share, representing an annualized yield of 0.9% and a payout ratio of 29.82%.

Dimensional Fund Advisors LP boosted its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 797,692 shares of the company's stock after purchasing an additional 4,085 shares during the period. Dimensional Fund Advisors LP owned approximately 0.36% of Trane Technologies worth $268,699,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TT. Csenge Advisory Group lifted its position in shares of Trane Technologies by 0.6% in the first quarter. Csenge Advisory Group now owns 3,944 shares of the company's stock worth $1,314,000 after purchasing an additional 25 shares in the last quarter. Fiera Capital Corp increased its stake in shares of Trane Technologies by 1.4% during the 1st quarter. Fiera Capital Corp now owns 1,930 shares of the company's stock worth $650,000 after purchasing an additional 27 shares during the last quarter. Bingham Private Wealth LLC boosted its holdings in shares of Trane Technologies by 3.2% during the first quarter. Bingham Private Wealth LLC now owns 944 shares of the company's stock worth $318,000 after acquiring an additional 29 shares during the period. Tradewinds Capital Management LLC boosted its holdings in shares of Trane Technologies by 46.2% during the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock worth $32,000 after acquiring an additional 30 shares during the period. Finally, Smith Group Asset Management LLC boosted its holdings in shares of Trane Technologies by 1.2% during the first quarter. Smith Group Asset Management LLC now owns 2,610 shares of the company's stock worth $879,000 after acquiring an additional 30 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TT shares. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price on the stock in a research report on Thursday, May 1st. Hsbc Global Res downgraded shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. The Goldman Sachs Group raised their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Barclays upped their price target on shares of Trane Technologies from $480.00 to $495.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Morgan Stanley raised their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $458.60.

Trane Technologies Price Performance

TT stock traded down $3.58 during midday trading on Thursday, reaching $422.72. The stock had a trading volume of 1,185,188 shares, compared to its average volume of 1,457,803. The company's fifty day simple moving average is $435.60 and its 200 day simple moving average is $392.81. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company has a market cap of $94.06 billion, a price-to-earnings ratio of 33.52, a price-to-earnings-growth ratio of 2.67 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.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter last year, the firm posted $3.30 EPS. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, sell-side analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies's payout ratio is currently 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.