Locust Wood Capital Advisers LLC Makes New $758,000 Investment in Trane Technologies plc (NYSE:TT)

Key Points

• Locust Wood Capital Advisers LLC invested $758,000 in Trane Technologies plc, acquiring 2,250 shares in the first quarter.
• Recent analyst activity includes HSBC downgrading Trane's rating from "strong-buy" to "hold", while Barclays raised their target price from $480 to $495 with an "overweight" rating.
• Trane Technologies declared a quarterly dividend of $0.94 per share, representing a 0.9% yield, to be paid on September 30th to shareholders of record on September 5th.

Locust Wood Capital Advisers LLC purchased a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,250 shares of the company's stock, valued at approximately $758,000.

A number of other large investors have also recently made changes to their positions in the company. Csenge Advisory Group boosted its stake in shares of Trane Technologies by 0.6% during the 1st quarter. Csenge Advisory Group now owns 3,944 shares of the company's stock worth $1,314,000 after purchasing an additional 25 shares during the period. Fiera Capital Corp lifted its holdings in Trane Technologies by 1.4% during the 1st quarter. Fiera Capital Corp now owns 1,930 shares of the company's stock valued at $650,000 after buying an additional 27 shares in the last quarter. Bingham Private Wealth LLC lifted its holdings in Trane Technologies by 3.2% during the 1st quarter. Bingham Private Wealth LLC now owns 944 shares of the company's stock valued at $318,000 after buying an additional 29 shares in the last quarter. Tradewinds Capital Management LLC lifted its holdings in Trane Technologies by 46.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after buying an additional 30 shares in the last quarter. Finally, Smith Group Asset Management LLC lifted its holdings in Trane Technologies by 1.2% during the 1st quarter. Smith Group Asset Management LLC now owns 2,610 shares of the company's stock valued at $879,000 after buying an additional 30 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TT shares. Barclays lifted their price objective on shares of Trane Technologies from $480.00 to $495.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. HSBC lowered shares of 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 report on Thursday, July 31st. Robert W. Baird lifted their price objective 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. Royal Bank Of Canada boosted their price target on shares of Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Finally, UBS Group boosted their price target on shares of Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a report on Tuesday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Trane Technologies currently has a consensus rating of "Hold" and an average target price of $458.60.

Trane Technologies Stock Up 0.5%

Shares of NYSE TT traded up $1.98 during trading hours on Friday, hitting $430.09. 755,558 shares of the stock were exchanged, compared to its average volume of 1,346,768. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The company has a market cap of $95.70 billion, a PE ratio of 34.11, a PEG ratio of 2.68 and a beta of 1.09. The firm has a fifty day moving average price of $435.42 and a 200-day moving average price of $389.90. 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 posted its quarterly earnings data 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 during the quarter, compared to analyst estimates 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 was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.30 EPS. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid 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 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.