LGT Group Foundation Has $5.25 Million Stake in Trane Technologies plc (NYSE:TT)

Key Points

• LGT Group Foundation sold 23,230 shares of Trane Technologies, reducing its stake by 59.8% to 15,584 shares valued at approximately $5.25 million.
• Trane Technologies announced a quarterly dividend of $0.94 per share, with a dividend yield of 0.9% and a payout ratio of 29.82%.
• Analysts have given Trane Technologies a consensus rating of "Hold" with an average target price of $458.60, while some analysts have upgraded their price targets significantly since July.

LGT Group Foundation cut its position in Trane Technologies plc (NYSE:TT - Free Report) by 59.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,584 shares of the company's stock after selling 23,230 shares during the quarter. LGT Group Foundation's holdings in Trane Technologies were worth $5,251,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Minot DeBlois Advisors LLC purchased a new stake in Trane Technologies during the 4th quarter valued at approximately $26,000. WFA Asset Management Corp raised its stake in Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in Trane Technologies during the 4th quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in Trane Technologies during the 1st quarter valued at approximately $31,000. Finally, Bogart Wealth LLC raised its stake in Trane Technologies by 97.9% during the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after acquiring an additional 46 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

Shares of Trane Technologies stock traded down $5.94 during trading on Thursday, hitting $428.94. 894,903 shares of the stock were exchanged, compared to its average volume of 1,382,433. The stock's fifty day moving average is $435.50 and its 200 day moving average is $391.10. The stock has a market cap of $95.44 billion, a PE ratio of 34.02, a P/E/G 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 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 issued its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.79 by $0.09. The firm had revenue of $5.75 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the business earned $3.30 earnings per share. As a group, sell-side analysts anticipate 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. Stockholders of record on Friday, September 5th will be paid 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 dividend yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is 29.82%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TT shares. Citigroup increased their price target on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a report on Monday, July 14th. The Goldman Sachs Group lifted their target price 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. HSBC lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and lifted their price target for the company from $415.00 to $460.00 in a report on Thursday, July 31st. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Finally, Robert W. Baird lifted their price target on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus 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.