Kodai Capital Management LP Buys Shares of 29,446 Trane Technologies plc $TT

Key Points

• Kodai Capital Management LP has made a new investment in Trane Technologies plc, acquiring 29,446 shares valued at approximately $9.92 million.
• Several institutional investors have also increased their stakes, with 82.97% of the stock currently owned by hedge funds and institutional investors.
• Trane Technologies recently announced a quarterly dividend of $0.94, resulting in an annualized yield of 0.9%, and has set FY 2025 guidance at earnings per share of $13.05.

Kodai Capital Management LP bought a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 29,446 shares of the company's stock, valued at approximately $9,921,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Evergreen Capital Management LLC lifted its stake in Trane Technologies by 1.9% during the 1st quarter. Evergreen Capital Management LLC now owns 3,325 shares of the company's stock valued at $1,120,000 after acquiring an additional 63 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Trane Technologies by 42.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 339,610 shares of the company's stock valued at $114,421,000 after purchasing an additional 101,962 shares during the last quarter. Vermillion & White Wealth Management Group LLC increased its position in shares of Trane Technologies by 366.7% during the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 350 shares of the company's stock valued at $118,000 after purchasing an additional 275 shares during the last quarter. WPG Advisers LLC purchased a new stake in shares of Trane Technologies during the 1st quarter valued at about $68,000. Finally, State of Wyoming increased its position in shares of Trane Technologies by 100.4% during the 1st quarter. State of Wyoming now owns 1,982 shares of the company's stock valued at $668,000 after purchasing an additional 993 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Performance

NYSE:TT traded down $4.73 during trading hours on Tuesday, reaching $410.87. The company had a trading volume of 1,300,217 shares, compared to its average volume of 1,444,681. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The firm has a market cap of $91.42 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 2.59 and a beta of 1.10. The business's 50 day moving average price is $435.48 and its 200-day moving average price is $396.73. 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 announced its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.09. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The business's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company 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. 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%.

Analysts Set New Price Targets

Several research firms recently issued reports on TT. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Citigroup lifted their target price on Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Morgan Stanley lifted their price objective on Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Finally, UBS Group lifted 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. Five 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, Trane Technologies has an average rating of "Hold" and an average target price 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.