Ieq Capital LLC Buys 25,977 Shares of Trane Technologies plc $TT

Key Points

• Ieq Capital LLC has increased its holdings in Trane Technologies plc by 119.3% in Q1, bringing the total investment to approximately $16.09 million.
• Analysts have raised their price targets for Trane Technologies, with UBS Group now projecting a target of $544.00 and five analysts issuing a Buy rating for the stock.
• The company declared a quarterly dividend of $0.94, which translates to an annualized payout of $3.76 and a yield of 0.9%.

Ieq Capital LLC lifted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 119.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,758 shares of the company's stock after acquiring an additional 25,977 shares during the period. Ieq Capital LLC's holdings in Trane Technologies were worth $16,090,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CWA Asset Management Group LLC lifted its position in shares of Trane Technologies by 19.2% during the 1st quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock valued at $382,000 after acquiring an additional 183 shares during the period. Ethic Inc. lifted its position in shares of Trane Technologies by 150.1% during the 4th quarter. Ethic Inc. now owns 24,883 shares of the company's stock valued at $9,190,000 after acquiring an additional 14,932 shares during the period. Brighton Jones LLC lifted its position in shares of Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after acquiring an additional 2,323 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in Trane Technologies by 495.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company's stock worth $1,433,000 after buying an additional 3,538 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Trane Technologies by 13.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,141 shares of the company's stock worth $3,417,000 after buying an additional 1,198 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Northcoast Research downgraded shares of Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. Royal Bank Of Canada upped their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. UBS Group upped their price objective on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Robert W. Baird upped their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $458.60.

Trane Technologies Stock Down 2.2%

Shares of TT stock traded down $9.15 on Monday, hitting $415.35. The stock had a trading volume of 1,278,639 shares, compared to its average volume of 1,044,314. The business has a 50 day moving average of $435.72 and a 200 day moving average of $396.36. The stock has a market cap of $92.42 billion, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 2.59 and a beta of 1.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18.

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, beating the consensus estimate of $3.79 by $0.09. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, analysts expect 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 dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.9%. Trane Technologies's dividend payout ratio is presently 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.