Trane Technologies plc (NYSE:TT) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc sold 109,007 shares of Trane Technologies plc, reducing its stake by 10.1% to 970,449 shares, valued at approximately $327 million at the end of the first quarter.
• Trane Technologies reported better-than-expected earnings of $2.45 per share for the quarter, surpassing analyst estimates, and achieved a year-over-year revenue growth of 11.2%.
• The company announced a quarterly dividend of $0.94 per share, with a dividend yield of 0.80% and a payout ratio of 31.28%.

TD Asset Management Inc decreased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 10.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 970,449 shares of the company's stock after selling 109,007 shares during the quarter. TD Asset Management Inc owned about 0.44% of Trane Technologies worth $326,964,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. WFA Asset Management Corp increased its position in Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new stake in Trane Technologies during the fourth quarter valued at $26,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Trane Technologies during the fourth quarter valued at $28,000. Opal Wealth Advisors LLC purchased a new stake in Trane Technologies during the first quarter valued at $31,000. Finally, Bogart Wealth LLC grew its holdings in Trane Technologies by 97.9% during the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Performance

TT stock traded down $36.46 during midday trading on Wednesday, reaching $434.53. The stock had a trading volume of 2,049,600 shares, compared to its average volume of 1,485,102. The stock has a market cap of $96.91 billion, a PE ratio of 36.12, a P/E/G ratio of 3.07 and a beta of 1.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. The firm has a fifty day simple moving average of $434.83 and a two-hundred day simple moving average of $387.49. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The company's revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $3.30 EPS. As a group, equities research 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. Investors of record on Friday, September 5th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.87%. Trane Technologies's dividend payout ratio is presently 31.28%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TT shares. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a research note on Thursday, May 1st. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Wells Fargo & Company boosted their target price on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Citigroup raised their price objective on Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, The Goldman Sachs Group increased their price target on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $441.40.

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.