Trane Technologies plc (NYSE:TT) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. has reduced its stake in Trane Technologies plc by 20.5%, now holding 644,259 shares valued at approximately $217 million.
• Trane Technologies reported a net income margin of 13.47% and earnings per share of $2.45 for the latest quarter, surpassing analysts' estimates.
• The company announced a quarterly dividend of $0.94, representing an annualized yield of 0.80%, with the payment scheduled for September 30th.

Federated Hermes Inc. decreased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 20.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 644,259 shares of the company's stock after selling 165,676 shares during the period. Federated Hermes Inc. owned 0.29% of Trane Technologies worth $217,064,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Minot DeBlois Advisors LLC bought a new stake in Trane Technologies in the fourth quarter worth $26,000. WFA Asset Management Corp raised its holdings in shares of Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Trane Technologies in the fourth quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new stake in shares of Trane Technologies in the first quarter valued at about $31,000. Finally, Bogart Wealth LLC raised its holdings in shares of Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after acquiring an additional 46 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 0.1%

Shares of NYSE TT traded up $0.54 during mid-day trading on Friday, reaching $438.62. 1,025,422 shares of the company's stock were exchanged, compared to its average volume of 1,495,778. The firm has a market capitalization of $97.82 billion, a price-to-earnings ratio of 34.81, a PEG ratio of 2.78 and a beta of 1.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.74 and a current ratio of 1.10. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The company's 50-day moving average is $435.26 and its 200-day moving average is $388.22.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. The company had revenue of $5.75 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the business posted $3.30 EPS. Analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared 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 of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is currently 29.82%.

Analysts Set New Price Targets

Several research firms have issued reports on TT. Hsbc Global Res lowered Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Stephens upgraded 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 downgraded Trane Technologies from a "buy" rating to a "hold" rating and boosted their price target for the company from $415.00 to $460.00 in a report on Thursday. Robert W. Baird upped their target price on Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. boosted their price target on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. 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, the company has a consensus rating of "Hold" and a consensus price target of $455.67.

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.