Pacer Advisors Inc. Cuts Stock Position in Trane Technologies plc (NYSE:TT)

Key Points

• Pacer Advisors Inc. reduced its holdings in Trane Technologies by 24.1%, now owning 13,705 shares valued at approximately $4.6 million.
• HSBC upgraded Trane Technologies from a "hold" to a "buy" rating, while the average target price for the stock has increased to $441.40.
• The company has declared a quarterly dividend of $0.94, with the ex-dividend date set for September 5th, reflecting a 0.80% yield.

Pacer Advisors Inc. cut its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 24.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,705 shares of the company's stock after selling 4,361 shares during the period. Pacer Advisors Inc.'s holdings in Trane Technologies were worth $4,617,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Cetera Investment Advisers boosted its holdings in Trane Technologies by 16.7% in the 1st quarter. Cetera Investment Advisers now owns 68,866 shares of the company's stock worth $23,202,000 after buying an additional 9,876 shares during the last quarter. Atria Investments Inc boosted its stake in shares of Trane Technologies by 4.7% in the first quarter. Atria Investments Inc now owns 38,217 shares of the company's stock worth $12,876,000 after acquiring an additional 1,714 shares during the last quarter. Journey Strategic Wealth LLC boosted its stake in shares of Trane Technologies by 9.3% in the first quarter. Journey Strategic Wealth LLC now owns 763 shares of the company's stock worth $257,000 after acquiring an additional 65 shares during the last quarter. Argonautica Private Wealth Management Inc. increased its position in shares of Trane Technologies by 4.8% during the first quarter. Argonautica Private Wealth Management Inc. now owns 1,942 shares of the company's stock worth $654,000 after purchasing an additional 89 shares in the last quarter. Finally, Machina Capital S.A.S. raised its stake in Trane Technologies by 6.5% in the 1st quarter. Machina Capital S.A.S. now owns 8,978 shares of the company's stock valued at $3,025,000 after purchasing an additional 546 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Trading Down 0.5%

Shares of NYSE:TT traded down $2.41 during midday trading on Friday, reaching $435.68. 551,971 shares of the company's stock were exchanged, compared to its average volume of 1,493,892. The stock has a market cap of $97.16 billion, a price-to-earnings ratio of 34.58, a P/E/G ratio of 2.78 and a beta of 1.15. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The firm's 50 day simple moving average is $435.26 and its two-hundred day simple moving average is $388.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.74.

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

Trane Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TT. The Goldman Sachs Group upped their target price on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Robert W. Baird increased their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. HSBC cut Trane Technologies from a "buy" rating to a "hold" rating and boosted their target price for the stock from $415.00 to $460.00 in a report on Thursday. Finally, Royal Bank Of Canada increased their price target on Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $455.67.

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.