Steward Partners Investment Advisory LLC Boosts Position in Trane Technologies plc $TT

Key Points

• Steward Partners Investment Advisory LLC increased its holdings in Trane Technologies by 5.6%, acquiring an additional 3,235 shares, bringing their total ownership to 60,609 shares valued at approximately $20.42 million.
• Analysts have different ratings for Trane Technologies, with Citi raising their price target from $445.00 to $502.00 while also issuing a "buy" rating, and other firms adjusting their targets between $370.00 and $460.00.
• Trane Technologies announced a quarterly dividend of $0.94 per share to be paid on September 30th, reflecting an annual yield of 0.9% and a payout ratio of 29.82%.

Steward Partners Investment Advisory LLC increased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,609 shares of the company's stock after purchasing an additional 3,235 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Trane Technologies were worth $20,420,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TT. Nuveen LLC bought a new stake in Trane Technologies during the first quarter worth about $877,468,000. GAMMA Investing LLC lifted its holdings in shares of Trane Technologies by 35,458.2% in the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock worth $679,161,000 after acquiring an additional 2,010,123 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Trane Technologies by 9.8% in the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock worth $5,297,235,000 after acquiring an additional 1,408,421 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after acquiring an additional 429,953 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Trane Technologies by 27.3% in the first quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company's stock worth $645,343,000 after acquiring an additional 410,734 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on TT. Wells Fargo & Company increased their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Citigroup increased 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. Robert W. Baird increased 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. Hsbc Global Res cut shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Finally, Northcoast Research cut shares of Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $458.60.

Trane Technologies Stock Down 0.8%

NYSE TT traded down $3.58 during mid-day trading on Thursday, hitting $422.72. The company's stock had a trading volume of 1,182,441 shares, compared to its average volume of 1,457,629. 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 firm has a market capitalization of $94.06 billion, a price-to-earnings ratio of 33.52, a PEG ratio of 2.67 and a beta of 1.09. The company's 50 day simple moving average is $435.60 and its 200 day simple moving average is $392.81. Trane Technologies plc has a twelve month low of $298.15 and a twelve 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 (EPS) 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 the consensus estimate of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies's payout ratio is presently 29.82%.

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.