Headlands Technologies LLC Buys 1,852 Shares of Trane Technologies plc (NYSE:TT)

Key Points

• Headlands Technologies LLC increased its holdings in Trane Technologies plc by 523.2% during the first quarter, now owning 2,206 shares valued at approximately $743,000.
• Trane Technologies reported a quarterly earnings per share (EPS) of $3.88, exceeding analysts' estimates, with a revenue of $5.75 billion for the quarter, up 7.6% year-over-year.
• The company announced a quarterly dividend of $0.94, reflecting a 0.9% yield and a payout ratio of 29.82%, to be paid to shareholders on September 30th.

Headlands Technologies LLC boosted its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 523.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,206 shares of the company's stock after purchasing an additional 1,852 shares during the quarter. Headlands Technologies LLC's holdings in Trane Technologies were worth $743,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Trane Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company's stock valued at $6,555,377,000 after acquiring an additional 221,206 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Trane Technologies by 4.1% during the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock valued at $1,234,908,000 after acquiring an additional 130,867 shares during the last quarter. Northern Trust Corp lifted its position in Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after buying an additional 429,953 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Trane Technologies by 1.6% in the fourth quarter. Nuveen Asset Management LLC now owns 2,332,626 shares of the company's stock worth $861,555,000 after buying an additional 37,389 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Trane Technologies by 8.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,319,287 shares of the company's stock worth $856,629,000 after buying an additional 177,206 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TT. Barclays raised their price target on Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a research report on Thursday, May 1st. Robert W. Baird raised their price target on Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. raised their price target on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, HSBC downgraded Trane Technologies from a "buy" rating to a "hold" rating and raised their price target for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $458.60.

Trane Technologies Stock Up 0.5%

Shares of Trane Technologies stock traded up $1.98 during trading on Friday, hitting $430.09. 755,558 shares of the stock traded hands, compared to its average volume of 1,337,319. The firm has a market cap of $95.70 billion, a P/E ratio of 34.11, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The stock's fifty day simple moving average is $435.42 and its 200 day simple moving average is $389.83.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 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 analyst estimates of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. The business's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.30 earnings per share. On average, equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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