Trane Technologies plc (NYSE:TT) Shares Bought by Renaissance Investment Group LLC

Key Points

• Renaissance Investment Group LLC increased its stake in Trane Technologies plc by 10.7% during the 1st quarter, now holding 28,195 shares valued at approximately $9.5 million.
• The company reported $2.45 EPS for the latest quarter, surpassing the consensus estimate of $2.20, with revenue up 11.2% year-over-year.
• Trane Technologies recently announced a quarterly dividend of $0.94 per share, yielding 0.80%, to be paid on September 30th.

Renaissance Investment Group LLC boosted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 10.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 28,195 shares of the company's stock after acquiring an additional 2,734 shares during the quarter. Trane Technologies comprises about 2.3% of Renaissance Investment Group LLC's portfolio, making the stock its 19th largest position. Renaissance Investment Group LLC's holdings in Trane Technologies were worth $9,499,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TT. WFA Asset Management Corp lifted its position in Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after acquiring an additional 50 shares during the period. Minot DeBlois Advisors LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at about $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Trane Technologies in the 1st quarter valued at about $31,000. Finally, Bogart Wealth LLC lifted its holdings in shares of Trane Technologies by 97.9% in the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Trading Down 0.1%

Trane Technologies stock traded down $0.33 during mid-day trading on Friday, hitting $437.75. The company's stock had a trading volume of 798,768 shares, compared to its average volume of 1,495,556. The company has a current ratio of 1.10, a quick ratio of 0.74 and a debt-to-equity ratio of 0.50. The stock's fifty day moving average is $435.26 and its two-hundred day moving average is $388.22. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The firm has a market capitalization of $97.63 billion, a PE ratio of 34.73, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. The company 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%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.30 earnings per share. On average, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 dividend on an annualized basis and a yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is currently 29.82%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TT shares. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a research note on Thursday, May 1st. Barclays lifted their price target on Trane Technologies from $480.00 to $495.00 and gave the company an "overweight" rating in a research note on Thursday. Northcoast Research lowered Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday. Royal Bank Of Canada boosted their price objective on Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a research note on Thursday. Finally, HSBC lowered Trane Technologies from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $415.00 to $460.00 in a research note on Thursday. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $455.67.

Trane Technologies 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.