National Pension Service Grows Position in Trane Technologies plc (NYSE:TT)

Key Points

• The National Pension Service increased its stake in Trane Technologies plc by 9.8% in the first quarter, owning a total of 627,365 shares valued at approximately $211.37 million.
• Trane Technologies reported earnings per share of $3.88 for the last quarter, exceeding analyst estimates, while revenue was $5.75 billion, slightly below expectations.
• The company announced a quarterly dividend of $0.94 to be paid on September 30th, which represents an annualized dividend of $3.76 and a yield of 0.9%.

National Pension Service grew its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 9.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 627,365 shares of the company's stock after buying an additional 55,908 shares during the period. National Pension Service owned 0.28% of Trane Technologies worth $211,372,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TT. CWA Asset Management Group LLC raised its holdings in Trane Technologies by 19.2% in the 1st quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock valued at $382,000 after acquiring an additional 183 shares during the last quarter. Ethic Inc. raised its stake in Trane Technologies by 150.1% during the fourth quarter. Ethic Inc. now owns 24,883 shares of the company's stock worth $9,190,000 after purchasing an additional 14,932 shares during the period. Brighton Jones LLC raised its stake in Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after purchasing an additional 2,323 shares during the period. Oppenheimer Asset Management Inc. raised its stake in Trane Technologies by 495.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company's stock worth $1,433,000 after purchasing an additional 3,538 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Trane Technologies by 13.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,141 shares of the company's stock worth $3,417,000 after purchasing an additional 1,198 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $435.30 on Thursday. 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 firm has a market cap of $96.86 billion, a PE ratio of 34.52, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The business has a 50 day moving average price of $435.54 and a two-hundred day moving average price of $390.67.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. Trane Technologies's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.30 earnings per share. Sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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 issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's payout ratio is currently 29.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and increased their price target for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Royal Bank Of Canada lifted their price target 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. 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 research report on Thursday, July 17th. Morgan Stanley lifted their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Northcoast Research cut Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. One research 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's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target 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.

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