Trane Technologies plc $TT Position Trimmed by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP sold 18,487 shares of Trane Technologies plc, reducing its holdings by 69.5% to 8,106 shares worth $2,731,000.
• Trane Technologies reported its quarterly earnings with an EPS of $3.88, exceeding estimates, and a revenue of $5.75 billion, which was slightly below expectations.
• The company's quarterly dividend of $0.94 per share will be paid on September 30th, and the dividend yield stands at 0.9%.

Quantbot Technologies LP trimmed its stake in Trane Technologies plc (NYSE:TT - Free Report) by 69.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 8,106 shares of the company's stock after selling 18,487 shares during the quarter. Quantbot Technologies LP's holdings in Trane Technologies were worth $2,731,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TT. Brighton Jones LLC lifted its stake in Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after buying an additional 2,323 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of Trane Technologies by 25.0% during the fourth quarter. MML Investors Services LLC now owns 25,960 shares of the company's stock valued at $9,588,000 after purchasing an additional 5,193 shares during the period. Stifel Financial Corp increased its holdings in shares of Trane Technologies by 1.6% during the fourth quarter. Stifel Financial Corp now owns 172,706 shares of the company's stock valued at $63,789,000 after purchasing an additional 2,769 shares during the period. Harvest Investment Services LLC acquired a new position in shares of Trane Technologies during the fourth quarter valued at $537,000. Finally, Alta Advisers Ltd increased its holdings in shares of Trane Technologies by 5.6% during the fourth quarter. Alta Advisers Ltd now owns 739 shares of the company's stock valued at $273,000 after purchasing an additional 39 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Trading Up 0.4%

TT traded up $1.6490 during trading on Friday, reaching $423.9190. The company had a trading volume of 1,010,344 shares, compared to its average volume of 1,307,055. The firm's 50-day simple moving average is $435.64 and its 200 day simple moving average is $393.96. The company has a market cap of $94.33 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 2.64 and a beta of 1.09. 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 0.50, a quick ratio of 0.76 and a current ratio of 1.10.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.Trane Technologies's revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies's payout ratio is presently 29.82%.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research analyst reports. Royal Bank Of Canada raised 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, July 31st. Citigroup raised their price target on Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a report on Monday, July 14th. Wells Fargo & Company raised their price target on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. HSBC lowered Trane Technologies from a "buy" rating to a "hold" rating and lifted their target price for the stock from $415.00 to $460.00 in a report on Thursday, July 31st. Finally, Morgan Stanley lifted their target price on Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Trane Technologies currently has an average rating of "Hold" and an average price target of $458.60.

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.