Eagle Global Advisors LLC Has $31.04 Million Holdings in Trane Technologies plc (NYSE:TT)

Key Points

• Eagle Global Advisors LLC decreased its holdings in Trane Technologies by 1.1%, now owning 92,135 shares valued at $31.04 million.
• A significant increase in institutional interest was noted, with Nuveen LLC acquiring a new position worth approximately $877 million and GAMMA Investing LLC increasing its stake by over 35,000% in the first quarter.
• The company recently announced a quarterly dividend of $0.94 per share, reflecting a 0.9% yield, with the dividend payout ratio at 29.82%.

Eagle Global Advisors LLC trimmed its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 1.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,135 shares of the company's stock after selling 1,008 shares during the period. Trane Technologies accounts for approximately 1.3% of Eagle Global Advisors LLC's holdings, making the stock its 18th largest position. Eagle Global Advisors LLC's holdings in Trane Technologies were worth $31,042,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TT. WFA Asset Management Corp boosted its holdings in shares of Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after buying an additional 50 shares during the period. Minot DeBlois Advisors LLC bought a new stake in shares of Trane Technologies during the 4th quarter worth $26,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Trane Technologies during the 4th quarter worth $28,000. Opal Wealth Advisors LLC bought a new stake in shares of Trane Technologies during the 1st quarter worth $31,000. Finally, Bogart Wealth LLC boosted its holdings in shares of Trane Technologies by 97.9% during the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after buying an additional 46 shares during the period. 82.97% of the stock is owned by institutional investors.

Trane Technologies Price Performance

Shares of TT stock traded up $10.98 during mid-day trading on Tuesday, reaching $439.05. The company's stock had a trading volume of 1,225,620 shares, compared to its average volume of 1,332,460. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The company has a market cap of $97.69 billion, a P/E ratio of 34.82, a PEG ratio of 2.67 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The firm's 50-day moving average is $435.49 and its two-hundred day moving average is $390.36.

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 during the quarter, compared to analysts' expectations of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the company posted $3.30 EPS. On average, research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business 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. This represents a $3.76 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is presently 29.82%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. 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. Robert W. Baird increased their price target on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Northcoast Research downgraded shares of Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada increased their price target on shares of Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of "Hold" and an average price target of $458.60.

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.