Rathbones Group PLC Has $23.54 Million Holdings in Trane Technologies plc (NYSE:TT)

Key Points

• Rathbones Group PLC has reduced its stake in Trane Technologies by 5.4%, now holding 69,853 shares valued at approximately $23.5 million.
• Trane Technologies announced a quarterly dividend of $0.94 per share, with an ex-dividend date of September 5th, reflecting a dividend yield of 0.9%.
• Wall Street analysts have mixed ratings for Trane Technologies, with a consensus rating of "Hold" and a target price averaging $458.60.

Rathbones Group PLC lowered its stake in Trane Technologies plc (NYSE:TT - Free Report) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 69,853 shares of the company's stock after selling 3,966 shares during the quarter. Rathbones Group PLC's holdings in Trane Technologies were worth $23,535,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after purchasing an additional 2,323 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Trane Technologies in the fourth quarter worth $13,396,000. Rockefeller Capital Management L.P. lifted its position in shares of Trane Technologies by 12.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 26,785 shares of the company's stock worth $9,889,000 after purchasing an additional 2,864 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Trane Technologies by 13.4% in the fourth quarter. Townsquare Capital LLC now owns 3,813 shares of the company's stock worth $1,408,000 after purchasing an additional 451 shares in the last quarter. Finally, Savvy Advisors Inc. bought a new stake in shares of Trane Technologies in the fourth quarter worth $301,000. Institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Performance

Shares of NYSE:TT traded down $5.94 on Thursday, hitting $428.94. The company had a trading volume of 894,903 shares, compared to its average volume of 1,382,433. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The stock has a market cap of $95.44 billion, a price-to-earnings ratio of 34.02, a P/E/G ratio of 2.71 and a beta of 1.09. The stock has a 50 day moving average price of $435.50 and a 200 day moving average price of $391.10. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 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 firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the previous year, the company earned $3.30 earnings per share. The company's quarterly revenue was up 7.6% on a year-over-year basis. Analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a $0.94 dividend. The ex-dividend date 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 29.82%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TT shares. The Goldman Sachs Group boosted their price objective 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. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Barclays boosted their target price on shares of Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Citigroup boosted their target price on shares of Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Robert W. Baird boosted their target price on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently 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.