L & S Advisors Inc Lowers Holdings in Trane Technologies plc (NYSE:TT)

Key Points

• L & S Advisors Inc reduced its stake in Trane Technologies plc by 24% during the first quarter, owning 8,976 shares worth approximately $3.024 million after the sale.
• Several institutional investors have recently modified their positions in Trane Technologies, with ownership from such entities now totaling 82.97% of the company's stock.
• Analysts have raised their price targets for Trane Technologies, with Barclays setting a target of $495, while Morgan Stanley increased theirs to $520.

L & S Advisors Inc cut its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 24.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,976 shares of the company's stock after selling 2,832 shares during the quarter. L & S Advisors Inc's holdings in Trane Technologies were worth $3,024,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC boosted its holdings in shares of Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after buying an additional 2,323 shares during the last quarter. Headlands Technologies LLC bought a new stake in Trane Technologies in the 4th quarter valued at about $131,000. PAX Financial Group LLC lifted its stake in shares of Trane Technologies by 17.4% during the 4th quarter. PAX Financial Group LLC now owns 858 shares of the company's stock valued at $317,000 after buying an additional 127 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its stake in Trane Technologies by 60.9% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 4,109 shares of the company's stock valued at $1,518,000 after buying an additional 1,556 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Trane Technologies by 8.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 298,261 shares of the company's stock worth $110,163,000 after acquiring an additional 24,157 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Northcoast Research cut Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. Wells Fargo & Company raised their price target on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Robert W. Baird increased their price target 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. HSBC lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $415.00 to $460.00 in a report on Thursday, July 31st. Finally, Royal Bank Of Canada upped their target price on Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $458.60.

Trane Technologies Trading Up 0.3%

TT stock traded up $1.43 during midday trading on Thursday, reaching $428.46. The company's stock had a trading volume of 271,826 shares, compared to its average volume of 1,488,006. The firm has a market capitalization of $95.34 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.67 and a beta of 1.09. 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 1 year low of $298.15 and a 1 year high of $476.18. The stock has a fifty day simple moving average of $435.50 and a two-hundred day simple moving average of $389.47.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.09. The company 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 firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.30 EPS. On average, equities research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

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 issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. Trane Technologies's dividend payout ratio is 29.82%.

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.