Northwest & Ethical Investments L.P. Decreases Holdings in Trane Technologies plc $TT

Key Points

• Northwest & Ethical Investments L.P. reduced its stake in Trane Technologies plc by 37.0%, now holding 37,909 shares valued at approximately $12.77 million.
• Institutional investors own nearly 83% of Trane Technologies, with other hedge funds like Brighton Jones LLC and First Trust Advisors LP increasing their positions significantly in the last quarter.
• Trane Technologies reported better-than-expected earnings with an EPS of $3.88, beating estimates by $0.09, and announced a quarterly dividend of $0.94 per share, reflecting a 0.9% yield.

Northwest & Ethical Investments L.P. trimmed its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 37.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,909 shares of the company's stock after selling 22,250 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Trane Technologies were worth $12,772,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Trane Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company's stock valued at $6,555,377,000 after purchasing an additional 221,206 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Trane Technologies by 9.8% during the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock worth $5,297,235,000 after buying an additional 1,408,421 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Trane Technologies by 4.1% in the fourth quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock valued at $1,234,908,000 after acquiring an additional 130,867 shares during the last quarter. Nuveen LLC acquired a new position in shares of Trane Technologies during the 1st quarter worth $877,468,000. Finally, Northern Trust Corp lifted its holdings in shares of Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after acquiring an additional 429,953 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TT shares. Wells Fargo & Company boosted their price objective on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Royal Bank Of Canada raised their target price on Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Hsbc Global Res cut shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Citigroup raised 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. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $458.60.

Trane Technologies Stock Performance

NYSE:TT traded down $3.58 on Thursday, reaching $422.72. 1,182,441 shares of the company's stock were exchanged, compared to its average volume of 1,457,629. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The firm has a market cap of $94.06 billion, a price-to-earnings ratio of 33.52, a P/E/G ratio of 2.67 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. The stock has a fifty day simple moving average of $435.60 and a 200-day simple moving average of $392.81.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. The business 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 quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, sell-side analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced 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. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is currently 29.82%.

About Trane Technologies

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.