Graham Capital Management L.P. Lowers Stock Holdings in Trane Technologies plc $TT

Key Points

• Graham Capital Management L.P. reduced its holdings in Trane Technologies plc by 61.8% in the first quarter, resulting in ownership of 4,634 shares valued at $1,561,000.
• Wall Street analysts have varied opinions on the stock, with Northcoast Research downgrading it from "buy" to "neutral" and Morgan Stanley raising its price target from $445.00 to $520.00 while maintaining an "overweight" rating.
• The company recently declared a quarterly dividend of $0.94 per share, representing an annual yield of 0.9%, to be paid on September 30th to investors of record.

Graham Capital Management L.P. reduced its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 61.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,634 shares of the company's stock after selling 7,501 shares during the period. Graham Capital Management L.P.'s holdings in Trane Technologies were worth $1,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Alamea Verwaltungs GmbH purchased a new position in Trane Technologies in the first quarter valued at $648,000. Saudi Central Bank purchased a new position in Trane Technologies in the first quarter valued at $30,000. Night Squared LP purchased a new position in Trane Technologies in the first quarter valued at $6,552,000. Second Line Capital LLC purchased a new position in Trane Technologies in the first quarter valued at $351,000. Finally, Pinnacle Wealth Planning Services Inc. boosted its holdings in Trane Technologies by 40.6% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,181 shares of the company's stock valued at $398,000 after purchasing an additional 341 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TT has been the subject of a number of recent research reports. Northcoast Research lowered Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. Morgan Stanley lifted their price target on Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Hsbc Global Res downgraded Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. UBS Group lifted their price target on Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. lifted their price target on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $458.60.

Trane Technologies Stock Performance

Shares of TT stock opened at $410.87 on Wednesday. The stock has a market capitalization of $91.42 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 2.59 and a beta of 1.10. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The stock's 50-day moving average price is $435.12 and its 200 day moving average price is $396.83. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) 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 return on equity of 36.61% and a net margin of 13.76%.The firm's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, equities research analysts forecast that Trane Technologies plc will post 12.83 EPS 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. This represents a $3.76 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies's payout ratio is 29.82%.

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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