Goldman Sachs Group Inc. Sells 257,565 Shares of Trane Technologies plc (NYSE:TT)

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Trane Technologies by 13.3%, selling 257,565 shares, and now owns approximately 0.75% of the company valued at $566,075,000.
• Trane Technologies reported earnings of $3.88 EPS for the last quarter, exceeding analyst expectations of $3.79, but had revenue of $5.75 billion, slightly below the forecast of $5.77 billion.
• The company has declared a $0.94 quarterly dividend, with a dividend yield of 0.9%, to be paid on September 30th to investors of record.

Goldman Sachs Group Inc. lessened its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 13.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,680,147 shares of the company's stock after selling 257,565 shares during the period. Goldman Sachs Group Inc. owned about 0.75% of Trane Technologies worth $566,075,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of TT. MGB Wealth Management LLC raised its stake in shares of Trane Technologies by 12.3% during the 1st quarter. MGB Wealth Management LLC now owns 1,329 shares of the company's stock worth $447,000 after purchasing an additional 146 shares in the last quarter. Natural Investments LLC raised its position in Trane Technologies by 155.2% during the first quarter. Natural Investments LLC now owns 8,079 shares of the company's stock worth $2,722,000 after acquiring an additional 4,913 shares in the last quarter. iA Global Asset Management Inc. bought a new stake in Trane Technologies during the first quarter worth $11,766,000. Cary Street Partners Investment Advisory LLC lifted its stake in Trane Technologies by 23.1% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 688 shares of the company's stock valued at $232,000 after acquiring an additional 129 shares during the last quarter. Finally, Cary Street Partners Financial LLC grew its position in shares of Trane Technologies by 8.8% in the 1st quarter. Cary Street Partners Financial LLC now owns 17,396 shares of the company's stock valued at $5,861,000 after acquiring an additional 1,414 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

NYSE:TT opened at $426.79 on Thursday. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. 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 simple moving average is $435.50 and its 200 day simple moving average is $389.47. The firm has a market cap of $94.97 billion, a price-to-earnings ratio of 33.85, a P/E/G ratio of 2.67 and a beta of 1.09.

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, topping the consensus estimate of $3.79 by $0.09. The company 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 revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $3.30 earnings per share. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is presently 29.82%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TT shares. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Citigroup upped their price objective on Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Hsbc Global Res downgraded Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Northcoast Research cut Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. Finally, Robert W. Baird raised their price target on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price 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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