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Charles Schwab Investment Management Inc. Boosts Stock Position in Trane Technologies plc (NYSE:TT)

Trane Technologies logo with Construction background

Key Points

  • Charles Schwab Investment Management Inc. increased its stake in Trane Technologies plc by 0.7%, owning 1,256,331 shares valued at approximately $423 million.
  • Institutional investors now own about 82.97% of Trane Technologies' stock, indicating strong institutional support.
  • Recent earnings showed Trane Technologies reporting $3.88 EPS for the quarter, exceeding analysts' expectations of $3.79, with revenue of $5.75 billion.
  • Looking to Export and Analyze Trane Technologies Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Charles Schwab Investment Management Inc. grew its position in Trane Technologies plc (NYSE:TT - Free Report) by 0.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,256,331 shares of the company's stock after buying an additional 8,248 shares during the period. Charles Schwab Investment Management Inc. owned 0.56% of Trane Technologies worth $423,283,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. WFA Asset Management Corp lifted its stake in Trane Technologies by 208.3% during the 1st 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 period. Minot DeBlois Advisors LLC acquired a new stake in Trane Technologies during the 4th quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Trane Technologies during the 4th quarter valued at approximately $28,000. Opal Wealth Advisors LLC acquired a new stake in Trane Technologies during the 1st quarter valued at approximately $31,000. Finally, Bogart Wealth LLC lifted its stake in shares of Trane Technologies by 97.9% in the 1st 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. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TT has been the subject of several analyst reports. Northcoast Research cut shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. Citigroup boosted their price target on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research report on Monday, July 14th. The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target on the stock in a research report on Thursday, May 1st. Finally, Wells Fargo & Company upped their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. One equities research 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $458.60.

Check Out Our Latest Stock Analysis on TT

Trane Technologies Stock Performance

Shares of TT traded up $1.98 during mid-day trading on Friday, reaching $430.09. 755,558 shares of the company's stock were exchanged, compared to its average volume of 1,346,768. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The stock has a market capitalization of $95.70 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. The business's fifty day simple moving average is $435.42 and its 200-day simple moving average is $389.90. 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 posted its quarterly earnings results 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 business had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.77 billion. During the same period last year, the firm earned $3.30 EPS. The company's quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

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

Trane Technologies Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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