Second Line Capital LLC Takes $351,000 Position in Trane Technologies plc $TT

Key Points

• Second Line Capital LLC has acquired a new position in Trane Technologies plc, purchasing 1,042 shares valued at about $351,000 in the first quarter.
• Trane Technologies announced a quarterly dividend of $0.94 to shareholders, with an annualized yield of 0.9%.
• Analysts have increased their price targets for Trane Technologies, with estimates ranging from $410.00 to $520.00 following recent earnings reports.

Second Line Capital LLC bought a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,042 shares of the company's stock, valued at approximately $351,000.

Other hedge funds have also added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in Trane Technologies in the first quarter valued at approximately $877,468,000. GAMMA Investing LLC lifted its holdings in shares of Trane Technologies by 35,458.2% during the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock worth $679,161,000 after purchasing an additional 2,010,123 shares during the period. Wellington Management Group LLP lifted its holdings 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 valued at $722,493,000 after buying an additional 1,522,933 shares during the period. JPMorgan Chase & Co. lifted its holdings in Trane Technologies by 9.8% in the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock valued at $5,297,235,000 after buying an additional 1,408,421 shares during the period. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Trane Technologies by 27.3% during the first quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company's stock valued at $645,343,000 after purchasing an additional 410,734 shares during the period. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Robert W. Baird upped their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Hsbc Global Res downgraded shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and increased their target price for the company from $415.00 to $460.00 in a research report on Thursday, July 31st. Northcoast Research downgraded shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, August 1st. Finally, UBS Group upped their price target on shares of Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $458.60.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded down $2.91 on Wednesday, hitting $408.02. 2,298,436 shares of the company traded hands, compared to its average volume of 1,449,805. The firm's 50-day simple moving average is $435.12 and its 200 day simple moving average is $396.83. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company has a market cap of $90.79 billion, a P/E ratio of 32.36, a P/E/G ratio of 2.59 and a beta of 1.10. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate 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 net margin of 13.76% and a return on equity of 36.61%. The business's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company posted $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is 29.82%.

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.