Gabelli Funds LLC Sells 16,000 Shares of Trane Technologies plc $TT

Key Points

• Gabelli Funds LLC reduced its stake in Trane Technologies plc by 17.0%, selling 16,000 shares, and now holds 78,191 shares valued at approximately $26.34 million.
• Trane Technologies reported an EPS of $3.88 for the last quarter, exceeding analyst expectations, while its quarterly revenue increased by 7.6% year-over-year to $5.75 billion.
• The company announced a quarterly dividend of $0.94 per share, with a payout ratio of 29.82% and a yield of 0.9%, scheduled for distribution on September 30th.

Gabelli Funds LLC cut its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 78,191 shares of the company's stock after selling 16,000 shares during the quarter. Gabelli Funds LLC's holdings in Trane Technologies were worth $26,344,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Trane Technologies by 5.8% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 275,491 shares of the company's stock worth $92,818,000 after acquiring an additional 15,216 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Trane Technologies by 7.5% in the first quarter. Smartleaf Asset Management LLC now owns 1,760 shares of the company's stock worth $584,000 after buying an additional 123 shares during the last quarter. Groupe la Francaise lifted its position in shares of Trane Technologies by 283.9% in the first quarter. Groupe la Francaise now owns 26,371 shares of the company's stock worth $8,694,000 after buying an additional 19,501 shares during the last quarter. Allstate Corp lifted its position in shares of Trane Technologies by 30.8% during the 1st quarter. Allstate Corp now owns 8,633 shares of the company's stock worth $2,909,000 after purchasing an additional 2,031 shares during the last quarter. Finally, Mccarter Private Wealth Services LLC lifted its position in shares of Trane Technologies by 5.4% during the 1st quarter. Mccarter Private Wealth Services LLC now owns 4,100 shares of the company's stock worth $1,381,000 after purchasing an additional 209 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on TT. UBS Group boosted their price objective on Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Citigroup boosted their price objective on Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Barclays boosted their price objective on Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Northcoast Research cut Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada upped their price target on Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $458.60.

Trane Technologies Price Performance

Shares of TT stock traded down $9.15 during trading hours on Friday, hitting $415.35. The company had a trading volume of 1,278,639 shares, compared to its average volume of 1,056,754. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The firm has a market capitalization of $92.42 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 2.59 and a beta of 1.09. The firm's fifty day moving average is $435.72 and its 200 day moving average is $396.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10.

Trane Technologies (NYSE:TT - Get Free Report) last released 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. 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 period in the prior year, the company posted $3.30 EPS. The company's revenue was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a $0.94 dividend. 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 dividend payout ratio is currently 29.82%.

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.