Trane Technologies plc $TT Shares Sold by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. reduced its stake in Trane Technologies plc by 3.1%, selling 13,883 shares to own a total of 435,967 shares, which represents approximately 0.20% of the company's holdings.
• A number of hedge funds have adjusted their positions in Trane Technologies, with Canada Pension Plan Investment Board notably increasing their stake by 42.9%.
• Trane Technologies recently announced a quarterly dividend of $0.94 per share, with an annualized dividend of $3.76, providing a yield of 0.9%.

Panagora Asset Management Inc. reduced its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 435,967 shares of the company's stock after selling 13,883 shares during the period. Trane Technologies comprises 0.7% of Panagora Asset Management Inc.'s holdings, making the stock its 25th biggest position. Panagora Asset Management Inc. owned about 0.20% of Trane Technologies worth $146,886,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TT. WFA Asset Management Corp boosted its holdings in Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after buying an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new stake in Trane Technologies during the fourth quarter worth $26,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Trane Technologies during the fourth quarter worth $28,000. Opal Wealth Advisors LLC purchased a new stake in Trane Technologies during the first quarter worth $31,000. Finally, Bogart Wealth LLC boosted its holdings in Trane Technologies by 97.9% during the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after buying an additional 46 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TT. Royal Bank Of Canada increased their price target on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Barclays increased their price objective on shares of Trane Technologies from $480.00 to $495.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Citigroup increased their price objective on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a report on Monday, July 14th. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Wells Fargo & Company increased their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. 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 company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $458.60.

Trane Technologies Stock Down 0.7%

TT stock traded down $2.91 during midday trading on Wednesday, reaching $408.02. 2,308,987 shares of the company were exchanged, compared to its average volume of 1,449,796. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The stock's 50-day simple moving average is $435.12 and its 200 day simple moving average is $396.83. The company has a market cap of $90.79 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 2.59 and a beta of 1.10.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. The company had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

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

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.