Jump Financial LLC Cuts Stake in Trane Technologies plc $TT

Key Points

• Jump Financial LLC reduced its stake in Trane Technologies plc by 86.7%, selling 49,836 shares and now holds 7,658 shares valued at approximately $2.58 million.
• Analysts have mixed opinions on Trane Technologies, with target prices ranging from $460.00 to $502.00, and an average rating of Hold.
• The company recently announced a $0.94 quarterly dividend, representing an annual yield of 0.9%, with a payout ratio of 29.82%.

Jump Financial LLC lessened its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 86.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,658 shares of the company's stock after selling 49,836 shares during the period. Jump Financial LLC's holdings in Trane Technologies were worth $2,580,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Smartleaf Asset Management LLC grew its position in shares of Trane Technologies by 7.5% in the first quarter. Smartleaf Asset Management LLC now owns 1,760 shares of the company's stock valued at $584,000 after purchasing an additional 123 shares in the last quarter. Groupe la Francaise grew its holdings in shares of Trane Technologies by 283.9% in the first quarter. Groupe la Francaise now owns 26,371 shares of the company's stock valued at $8,694,000 after purchasing an additional 19,501 shares during the period. Allstate Corp grew its holdings in shares of Trane Technologies by 30.8% in the first quarter. Allstate Corp now owns 8,633 shares of the company's stock valued at $2,909,000 after purchasing an additional 2,031 shares during the period. Mccarter Private Wealth Services LLC grew its holdings in shares of Trane Technologies by 5.4% in the first quarter. Mccarter Private Wealth Services LLC now owns 4,100 shares of the company's stock valued at $1,381,000 after purchasing an additional 209 shares during the period. Finally, Compound Planning Inc. grew its position in Trane Technologies by 25.4% in the first quarter. Compound Planning Inc. now owns 2,233 shares of the company's stock worth $752,000 after acquiring an additional 452 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

NYSE TT traded down $9.15 on Friday, reaching $415.35. The stock had a trading volume of 1,278,639 shares, compared to its average volume of 1,056,754. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The business's 50-day moving average price is $435.72 and its 200 day moving average price is $396.12. The stock has a market cap of $92.42 billion, a P/E ratio of 32.94, a price-to-earnings-growth ratio of 2.59 and a beta of 1.09.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data 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 return on equity of 36.61% and a net margin of 13.76%.The company had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.77 billion. During the same quarter in the previous year, the business earned $3.30 earnings per share. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio is presently 29.82%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. increased 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. 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. UBS Group raised their price target on 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 price objective on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, HSBC cut Trane Technologies from a "buy" rating to a "hold" rating and lifted their price objective for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $458.60.

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.