LPL Financial LLC Acquires 14,921 Shares of Trane Technologies plc (NYSE:TT)

Key Points

• LPL Financial LLC increased its stake in Trane Technologies plc by 7.4%, acquiring an additional 14,921 shares during the first quarter, bringing its total holdings to 216,325 shares valued at approximately $72.88 million.
• Trane Technologies reported earnings of $3.88 per share, exceeding analyst expectations, with a revenue of $5.75 billion for the quarter, marking a 7.6% increase from the previous year.
• The company declared a quarterly dividend of $0.94 per share, with an annualized dividend yield of 0.87%, and a payout ratio of 31.28% as of the last reporting period.

LPL Financial LLC increased its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 7.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 216,325 shares of the company's stock after acquiring an additional 14,921 shares during the quarter. LPL Financial LLC owned approximately 0.10% of Trane Technologies worth $72,884,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Csenge Advisory Group lifted its position in Trane Technologies by 0.6% in the 1st quarter. Csenge Advisory Group now owns 3,944 shares of the company's stock valued at $1,314,000 after acquiring an additional 25 shares in the last quarter. Bingham Private Wealth LLC lifted its position in Trane Technologies by 3.2% in the 1st quarter. Bingham Private Wealth LLC now owns 944 shares of the company's stock valued at $318,000 after acquiring an additional 29 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Trane Technologies by 0.8% in the 4th quarter. Quadrant Capital Group LLC now owns 3,786 shares of the company's stock valued at $1,398,000 after acquiring an additional 30 shares in the last quarter. Tradewinds Capital Management LLC lifted its position in Trane Technologies by 46.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after acquiring an additional 30 shares in the last quarter. Finally, Smith Group Asset Management LLC lifted its position in Trane Technologies by 1.2% in the 1st quarter. Smith Group Asset Management LLC now owns 2,610 shares of the company's stock valued at $879,000 after acquiring an additional 30 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TT shares. HSBC cut Trane Technologies from a "buy" rating to a "hold" rating and upped their price objective for the company from $415.00 to $460.00 in a research report on Thursday. Wells Fargo & Company increased their price target on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a research note on Thursday, May 1st. Robert W. Baird raised their price objective on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Finally, The Goldman Sachs Group raised their price objective on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $455.67.

Trane Technologies Trading Up 1.6%

NYSE TT traded up $6.84 during trading on Thursday, hitting $438.28. The stock had a trading volume of 2,244,831 shares, compared to its average volume of 1,203,927. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.74 and a current ratio of 1.10. The stock has a market capitalization of $97.74 billion, a price-to-earnings ratio of 34.76, a P/E/G ratio of 2.78 and a beta of 1.15. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. The stock has a 50 day simple moving average of $435.26 and a 200 day simple moving average of $388.22.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the previous year, the firm posted $3.30 earnings per share. The company's revenue was up 7.6% on a year-over-year basis. Sell-side analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm 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 $0.94 dividend. 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 payout ratio is 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.