Groupe la Francaise Acquires 19,501 Shares of Trane Technologies plc $TT

Key Points

• Groupe la Francaise significantly increased its stake in Trane Technologies plc by 283.9% in Q1, owning a total of 26,371 shares valued at $8.69 million.
• Trane Technologies reported earnings of $3.88 per share, exceeding estimates, while its revenue for the quarter was $5.75 billion, up 7.6% from the previous year.
• Analysts have set new price targets for Trane Technologies, with UBS raising it to $544 and a consensus target price of $458.60 among various brokerage reports.

Groupe la Francaise boosted its position in Trane Technologies plc (NYSE:TT - Free Report) by 283.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,371 shares of the company's stock after buying an additional 19,501 shares during the period. Groupe la Francaise's holdings in Trane Technologies were worth $8,694,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Allstate Corp increased its holdings in Trane Technologies by 30.8% in the first quarter. Allstate Corp now owns 8,633 shares of the company's stock worth $2,909,000 after purchasing an additional 2,031 shares in the last quarter. Mccarter Private Wealth Services LLC grew 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 buying an additional 209 shares during the period. Compound Planning Inc. increased its stake in shares of Trane Technologies by 25.4% in the 1st quarter. Compound Planning Inc. now owns 2,233 shares of the company's stock valued at $752,000 after acquiring an additional 452 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Trane Technologies by 7.2% during the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company's stock valued at $1,208,044,000 after acquiring an additional 241,910 shares during the period. Finally, Bragg Financial Advisors Inc lifted its position in shares of Trane Technologies by 3.3% during the 1st quarter. Bragg Financial Advisors Inc now owns 24,046 shares of the company's stock valued at $8,102,000 after acquiring an additional 757 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

TT stock traded down $1.65 during midday trading on Wednesday, hitting $424.54. The company's stock had a trading volume of 1,137,015 shares, compared to its average volume of 1,446,873. The stock has a market cap of $94.46 billion, a price-to-earnings ratio of 33.67, a PEG ratio of 2.61 and a beta of 1.09. The stock's 50-day moving average price is $435.59 and its 200 day moving average price is $394.88. 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 plc has a 1 year low of $298.15 and a 1 year high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.77 billion. During the same period in the previous year, the company earned $3.30 earnings per share. The company's quarterly revenue was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TT shares. Morgan Stanley raised their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. UBS Group raised their target price on Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Northcoast Research lowered Trane Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, The Goldman Sachs Group boosted their price objective on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $458.60.

About Trane Technologies

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.