Trane Technologies plc $TT Shares Sold by Mirova

Key Points

• Mirova reduced its stake in Trane Technologies plc by 30.5%, owning 13,290 shares valued at $4.48 million following the sale of 5,828 shares.
• Analysts have mixed sentiments about Trane Technologies, with Barclays raising the price target to $495, while Northcoast Research downgraded its rating to "neutral."
• Trane Technologies declared a quarterly dividend of $0.94 per share, representing an annualized yield of 0.9%, to be paid on September 30th.

Mirova cut its position in Trane Technologies plc (NYSE:TT - Free Report) by 30.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,290 shares of the company's stock after selling 5,828 shares during the quarter. Mirova's holdings in Trane Technologies were worth $4,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at $26,000. WFA Asset Management Corp grew its stake in shares of Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after buying an additional 50 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of Trane Technologies in the first quarter valued at $31,000. Finally, Bogart Wealth LLC grew its stake in shares of Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after buying an additional 46 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their price objective on Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research note on Monday, July 14th. The Goldman Sachs Group lifted their target price on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Barclays lifted their target price on Trane Technologies from $480.00 to $495.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Morgan Stanley lifted their target price on Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. lifted their target price on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Trane Technologies presently has a consensus rating of "Hold" and a consensus price target of $458.60.

Trane Technologies Stock Performance

Shares of TT traded up $0.73 during midday trading on Thursday, reaching $424.92. 1,093,258 shares of the stock were exchanged, compared to its average volume of 1,446,594. The company has a market capitalization of $94.55 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.66 and a beta of 1.09. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The business's 50-day moving average price is $435.69 and its 200 day moving average price is $395.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly 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 firm had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 5th. 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.