Prescott Group Capital Management L.L.C. Makes New $263,000 Investment in Trane Technologies plc (NYSE:TT)

Key Points

• Prescott Group Capital Management acquired 780 shares of Trane Technologies plc valued at approximately $263,000 during the 1st quarter.
• Several research analysts have recently raised their price targets for Trane Technologies, with HSBC increasing its target from $405 to $415 and UBS Group raising it from $470 to $500, while maintaining a "buy" rating.
• Trane Technologies has announced a quarterly dividend of $0.94, representing an annualized yield of 0.81%, with a payout ratio of 31.28%.

Prescott Group Capital Management L.L.C. purchased a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 780 shares of the company's stock, valued at approximately $263,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock worth $1,760,549,000 after purchasing an additional 136,349 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Trane Technologies by 4.1% in the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock worth $1,234,908,000 after purchasing an additional 130,867 shares in the last quarter. Norges Bank bought a new position in Trane Technologies in the 4th quarter worth $1,117,816,000. Northern Trust Corp raised its holdings in Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after purchasing an additional 429,953 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in Trane Technologies by 1.6% in the 4th quarter. Nuveen Asset Management LLC now owns 2,332,626 shares of the company's stock worth $861,555,000 after purchasing an additional 37,389 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

Shares of NYSE:TT traded down $1.66 during trading on Tuesday, hitting $470.89. The company's stock had a trading volume of 1,124,717 shares, compared to its average volume of 1,472,503. The company has a 50-day moving average of $433.99 and a 200-day moving average of $386.90. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The firm has a market cap of $105.02 billion, a price-to-earnings ratio of 39.18, a P/E/G ratio of 3.07 and a beta of 1.15.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The company had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. During the same quarter last year, the business earned $1.94 EPS. The firm's revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts expect 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. Investors 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 0.80%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price on the stock in a research report on Thursday, May 1st. 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 research report on Tuesday, July 8th. Barclays upped their target price on shares of Trane Technologies from $476.00 to $480.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and increased their price objective for the company from $405.00 to $415.00 in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $441.40.

Insider Buying and Selling at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider directly owned 3,593 shares of the company's stock, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.38% of the company's stock.

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.