Trane Technologies plc (NYSE:TT) Shares Sold by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. reduced its holdings in Trane Technologies plc by 61.6% in the first quarter, owning 2,497 shares worth approximately $841,000 after selling 3,999 shares.
• Trane Technologies reported $3.88 earnings per share for the quarter, surpassing the consensus estimate of $3.79, despite a quarterly revenue of $5.75 billion which was slightly below the estimated $5.77 billion.
• The company announced a quarterly dividend of $0.94 per share, set to be paid on September 30th, resulting in an annualized dividend yield of 0.9%.

LGT Fund Management Co Ltd. decreased its stake in Trane Technologies plc (NYSE:TT - Free Report) by 61.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,497 shares of the company's stock after selling 3,999 shares during the period. LGT Fund Management Co Ltd.'s holdings in Trane Technologies were worth $841,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TT. Minot DeBlois Advisors LLC acquired a new position in Trane Technologies during the fourth quarter worth about $26,000. WFA Asset Management Corp raised its position in Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after acquiring an additional 50 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Trane Technologies during the fourth quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new position in Trane Technologies during the first quarter worth about $31,000. Finally, Bogart Wealth LLC raised its position in Trane Technologies by 97.9% during the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after acquiring an additional 46 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Hsbc Global Res cut shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a research report on Thursday, May 1st. Northcoast Research lowered shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, August 1st. Royal Bank Of Canada boosted their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Finally, HSBC lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and boosted their price objective for the company from $415.00 to $460.00 in a research report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $458.60.

Trane Technologies Trading Down 1.4%

Trane Technologies stock traded down $5.94 during trading on Thursday, reaching $428.94. The company had a trading volume of 894,903 shares, compared to its average volume of 1,382,433. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The stock's 50 day moving average price is $435.50 and its two-hundred day moving average price is $391.10. The firm has a market capitalization of $95.44 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 2.71 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 (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping 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%. Trane Technologies's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.30 earnings per share. As a group, equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal 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. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) 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.