4,000 Shares in Trane Technologies plc (NYSE:TT) Acquired by Telligent Fund LP

Key Points

• Telligent Fund LP has invested approximately $1.35 million in Trane Technologies plc by acquiring 4,000 shares, making Trane Technologies 1.5% of its portfolio.
• Trane Technologies recently reported an EPS of $3.88 for the last quarter, surpassing expectations, while its revenue rose 7.6% year-over-year.
• The company has declared a quarterly dividend of $0.94 to be paid on September 30th, representing an annualized yield of 0.9%.

Telligent Fund LP acquired a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,000 shares of the company's stock, valued at approximately $1,348,000. Trane Technologies accounts for about 1.5% of Telligent Fund LP's holdings, making the stock its 24th largest holding.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Callan Family Office LLC raised its holdings in Trane Technologies by 1.6% during the first quarter. Callan Family Office LLC now owns 2,039 shares of the company's stock worth $687,000 after acquiring an additional 33 shares in the last quarter. Rossmore Private Capital raised its holdings in Trane Technologies by 3.2% during the first quarter. Rossmore Private Capital now owns 7,242 shares of the company's stock worth $2,440,000 after acquiring an additional 227 shares in the last quarter. HighTower Advisors LLC raised its holdings in Trane Technologies by 10.0% during the first quarter. HighTower Advisors LLC now owns 130,911 shares of the company's stock worth $44,106,000 after acquiring an additional 11,873 shares in the last quarter. Trillium Asset Management LLC raised its holdings in Trane Technologies by 21.6% during the first quarter. Trillium Asset Management LLC now owns 126,150 shares of the company's stock worth $42,503,000 after acquiring an additional 22,428 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Trane Technologies by 104.4% during the first quarter. Public Sector Pension Investment Board now owns 57,462 shares of the company's stock worth $19,360,000 after acquiring an additional 29,356 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on TT. Barclays upped their target price on Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. The Goldman Sachs Group upped their target price on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Morgan Stanley upped their price objective on Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Royal Bank Of Canada upped their price objective on Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Finally, Northcoast Research lowered Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of "Hold" and an average target price of $458.60.

Trane Technologies Stock Performance

Shares of Trane Technologies stock traded down $3.65 on Wednesday, hitting $435.30. The stock had a trading volume of 1,182,293 shares, compared to its average volume of 1,352,713. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The business's 50 day moving average is $435.54 and its two-hundred day 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 cap 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 issued its quarterly earnings results 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 business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.30 earnings per share. Analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend 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 is currently 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.