Groupama Asset Managment Grows Stock Position in Trane Technologies plc $TT

Key Points

• Groupama Asset Management enhanced its investment in Trane Technologies plc by 25.7%, acquiring an additional 2,267 shares, bringing its total ownership to 11,096 shares valued at approximately $3.68 million.
• Several analysts have recently raised their price targets for Trane Technologies, with Barclays increasing it to $495.00 and Goldman Sachs to $460.00, indicating a generally optimistic outlook on the stock.
• Trane Technologies declared a quarterly dividend of $0.94 per share, with a dividend yield of 0.9%, to be paid on September 30th to shareholders of record.

Groupama Asset Managment boosted its position in Trane Technologies plc (NYSE:TT - Free Report) by 25.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,096 shares of the company's stock after acquiring an additional 2,267 shares during the quarter. Groupama Asset Managment's holdings in Trane Technologies were worth $3,684,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a report on Thursday, May 1st. UBS Group raised their target price on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Citigroup raised their target price on shares of Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Finally, Robert W. Baird raised their target price on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $458.60.

Trane Technologies Stock Performance

NYSE:TT traded up $1.6490 during midday trading on Friday, reaching $423.9190. The stock had a trading volume of 1,010,344 shares, compared to its average volume of 1,307,055. The stock has a market cap of $94.33 billion, a P/E ratio of 33.62, a P/E/G ratio of 2.63 and a beta of 1.09. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The firm has a fifty day simple moving average of $435.64 and a two-hundred day simple moving average of $393.71. 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 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 analyst estimates 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 was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, equities analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $0.94 per share. 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 payout ratio is presently 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.