Northern Trust Corp Raises Position in Trane Technologies plc $TT

Key Points

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Northern Trust Corp lifted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 0.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,584,819 shares of the company's stock after buying an additional 17,292 shares during the period. Northern Trust Corp owned about 1.16% of Trane Technologies worth $870,877,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. CWA Asset Management Group LLC increased its position in shares of Trane Technologies by 19.2% during the first quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock valued at $382,000 after buying an additional 183 shares during the period. Ethic Inc. boosted its stake in shares of Trane Technologies by 150.1% during the 4th quarter. Ethic Inc. now owns 24,883 shares of the company's stock worth $9,190,000 after acquiring an additional 14,932 shares during the last quarter. Brighton Jones LLC boosted its position in shares of Trane Technologies by 60.0% in 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. grew its holdings in Trane Technologies by 495.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company's stock valued at $1,433,000 after buying an additional 3,538 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Trane Technologies by 13.4% in 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 last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Up 1.4%

Shares of NYSE TT opened at $429.20 on Tuesday. The firm's 50-day moving average is $435.42 and its two-hundred day moving average is $392.33. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The company has a market capitalization of $95.50 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. 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 posted its 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 business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the previous year, the business posted $3.30 EPS. The business's quarterly revenue was up 7.6% on a year-over-year basis. Equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies's payout ratio is 29.82%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Citigroup lifted their price target on shares of Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Barclays raised their price target on shares of Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Finally, Wells Fargo & Company upped their target price on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $458.60.

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.

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