Fiduciary Family Office LLC Purchases New Position in Trane Technologies plc (NYSE:TT)

Key Points

• Fiduciary Family Office LLC acquired a new position in Trane Technologies plc, purchasing 1,516 shares valued at approximately $511,000 during the first quarter.
• Trane Technologies reported a quarterly earnings per share of $3.88, exceeding estimates, with a revenue of $5.75 billion for the quarter.
• The company declared a quarterly dividend of $0.94 per share, with a dividend yield of 0.9%, highlighting a 29.82% dividend payout ratio.

Fiduciary Family Office LLC purchased a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,516 shares of the company's stock, valued at approximately $511,000.

Other institutional investors also recently modified their holdings of the company. WFA Asset Management Corp lifted its stake 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 valued at $25,000 after buying an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Trane Technologies during the 1st quarter valued at approximately $31,000. Finally, Bogart Wealth LLC lifted its stake in shares of Trane Technologies by 97.9% during the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after buying an additional 46 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

Trane Technologies stock opened at $430.09 on Friday. The firm's fifty day moving average price is $435.42 and its 200-day moving average price is $389.90. 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 stock has a market cap of $95.70 billion, a P/E ratio of 34.11, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.09. The firm had revenue of $5.75 billion for 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 business's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company posted $3.30 EPS. On average, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is currently 29.82%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Northcoast Research cut shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. HSBC cut shares of Trane Technologies from a "buy" rating to a "hold" rating and increased their target price for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Royal Bank Of Canada increased their target price on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Robert W. Baird increased their target price on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, Citigroup increased their target price on shares of Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $458.60.

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.

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