Sienna Gestion Trims Stock Position in Trane Technologies plc (NYSE:TT)

Key Points

• Sienna Gestion has reduced its stake in Trane Technologies plc by 5.8%, leaving it with 25,199 shares worth $8,253,000 following the sale of 1,540 shares in the first quarter.
• Trane Technologies reported a quarterly earnings per share (EPS) of $3.88, beating the estimate of $3.79, and its revenue increased by 7.6% compared to the same quarter last year.
• The company declared a quarterly dividend of $0.94, which is set to be paid on September 30th, representing an annualized yield of 0.9% with a payout ratio of 29.82%.

Sienna Gestion reduced its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,199 shares of the company's stock after selling 1,540 shares during the quarter. Sienna Gestion's holdings in Trane Technologies were worth $8,253,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Csenge Advisory Group lifted its stake in Trane Technologies by 0.6% during the 1st quarter. Csenge Advisory Group now owns 3,944 shares of the company's stock valued at $1,314,000 after acquiring an additional 25 shares during the period. Fiera Capital Corp boosted its stake in shares of Trane Technologies by 1.4% during the 1st quarter. Fiera Capital Corp now owns 1,930 shares of the company's stock worth $650,000 after acquiring an additional 27 shares during the last quarter. Bingham Private Wealth LLC raised its holdings in Trane Technologies by 3.2% in the 1st quarter. Bingham Private Wealth LLC now owns 944 shares of the company's stock worth $318,000 after purchasing an additional 29 shares during the period. Tradewinds Capital Management LLC raised its stake in shares of Trane Technologies by 46.2% in the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock worth $32,000 after buying an additional 30 shares during the period. Finally, Smith Group Asset Management LLC raised its stake in shares of Trane Technologies by 1.2% in the first quarter. Smith Group Asset Management LLC now owns 2,610 shares of the company's stock worth $879,000 after buying an additional 30 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

TT stock opened at $435.30 on Thursday. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The stock's fifty day simple moving average is $435.54 and its 200-day simple moving average is $390.67. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $96.86 billion, a price-to-earnings ratio of 34.52, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09.

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 return on equity of 36.61% and a net margin of 13.76%. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period last year, the company posted $3.30 earnings per share. The firm's revenue was up 7.6% compared to the same quarter last year. Equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced 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. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies's payout ratio is presently 29.82%.

Analyst Ratings Changes

TT has been the topic of a number of research reports. The Goldman Sachs Group lifted their price objective on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Robert W. Baird lifted their target price on Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Northcoast Research cut Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price 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.

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