Prosperity Consulting Group LLC Trims Position in Trane Technologies plc (NYSE:TT)

Key Points

• Prosperity Consulting Group LLC has reduced its stake in Trane Technologies plc by 15.5%, now holding 5,103 shares valued at approximately $1.72 million.
• The company's shares closed at $471.64, with a market capitalization of $105.19 billion and a price-to-earnings ratio of 39.24.
• Trane Technologies has announced a quarterly dividend of $0.94 per share, leading to an annualized yield of 0.80% for shareholders.

Prosperity Consulting Group LLC cut its stake in Trane Technologies plc (NYSE:TT - Free Report) by 15.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,103 shares of the company's stock after selling 933 shares during the period. Prosperity Consulting Group LLC's holdings in Trane Technologies were worth $1,719,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TT. WFA Asset Management Corp increased its stake in Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after purchasing an additional 50 shares during the period. Minot DeBlois Advisors LLC acquired a new position in Trane Technologies in the fourth quarter valued at $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Trane Technologies during the fourth quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Trane Technologies during the first quarter worth about $31,000. Finally, Bogart Wealth LLC increased its stake in shares of 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 acquiring an additional 46 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

Shares of NYSE TT traded down $3.51 on Friday, hitting $434.57. The company's stock had a trading volume of 601,029 shares, compared to its average volume of 1,494,287. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The company has a market capitalization of $96.92 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.74. The stock has a 50 day moving average of $435.26 and a 200-day moving average of $388.22.

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

Trane Technologies Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Morgan Stanley boosted their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a research note on Thursday. The Goldman Sachs Group boosted 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. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Finally, Northcoast Research reiterated a "neutral" rating on shares of Trane Technologies in a research note on Friday. One 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 data from MarketBeat, Trane Technologies has a consensus rating of "Hold" and a consensus price target 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.