Price T Rowe Associates Inc. MD Sells 109,018 Shares of Trane Technologies plc $TT

Key Points

• Price T Rowe Associates Inc. reduced its stake in Trane Technologies by 8.7% in the first quarter, now owning approximately 1.15 million shares valued at $387.3 million.
• Analysts have recently issued varied ratings and revised price targets for Trane Technologies, with Barclays raising its target from $480.00 to $495.00 while Wells Fargo decreased its target from $370.00 to $410.00.
• Trane Technologies declared a quarterly dividend of $0.94 per share, representing an annualized dividend yield of 0.9%, to be paid on September 30th.

Price T Rowe Associates Inc. MD trimmed its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,149,462 shares of the company's stock after selling 109,018 shares during the period. Price T Rowe Associates Inc. MD owned about 0.52% of Trane Technologies worth $387,278,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC bought a new position in Trane Technologies in the first quarter worth about $877,468,000. GAMMA Investing LLC raised its stake in Trane Technologies by 35,458.2% in the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock worth $679,161,000 after buying an additional 2,010,123 shares in the last quarter. Wellington Management Group LLP raised its stake in Trane Technologies by 245.1% in the first quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company's stock worth $722,493,000 after buying an additional 1,522,933 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Trane Technologies by 9.8% in 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. Finally, Northern Trust Corp raised its stake in 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 buying an additional 429,953 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Down 0.4%

Shares of NYSE:TT traded down $1.65 during trading on Wednesday, reaching $424.54. 836,616 shares of the stock traded hands, compared to its average volume of 1,444,778. The stock has a 50-day moving average of $435.59 and a two-hundred day moving average of $394.88. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The stock has a market cap of $94.46 billion, a P/E ratio of 33.67, a price-to-earnings-growth ratio of 2.61 and a beta of 1.09.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.77 billion. During the same quarter in the prior year, the company posted $3.30 earnings per share. The business's revenue for the quarter was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal 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 issued a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is currently 29.82%.

Wall Street Analyst Weigh In

TT has been the subject of a number of research reports. The Goldman Sachs Group increased their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Northcoast Research cut shares of Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. Hsbc Global Res cut shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company upped their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $458.60.

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.