Trane Technologies plc (NYSE:TT) Stock Position Increased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its holdings in Trane Technologies by 11.6%, owning approximately 0.18% of the company, valued at over $137 million.
• Trane Technologies reported $3.88 EPS for the last quarter, exceeding the consensus estimate by $0.09, with year-over-year revenue growth of 7.6%.
• The company declared a quarterly dividend of $0.94 per share, which will yield approximately 0.9%, and has a payout ratio of 29.82%.

Russell Investments Group Ltd. boosted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 407,504 shares of the company's stock after buying an additional 42,515 shares during the period. Russell Investments Group Ltd. owned 0.18% of Trane Technologies worth $137,237,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC increased its holdings in shares of Trane Technologies by 19.2% in the first quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock valued at $382,000 after purchasing an additional 183 shares during the period. Ethic Inc. increased its holdings in shares of Trane Technologies by 150.1% in the fourth quarter. Ethic Inc. now owns 24,883 shares of the company's stock valued at $9,190,000 after purchasing an additional 14,932 shares during the period. Brighton Jones LLC increased its holdings in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after purchasing an additional 2,323 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Trane Technologies by 495.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company's stock valued at $1,433,000 after purchasing an additional 3,538 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Trane Technologies by 13.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,141 shares of the company's stock valued at $3,417,000 after purchasing an additional 1,198 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of analyst reports. Robert W. Baird lifted their price target on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. UBS Group boosted their target price on Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group boosted their target price on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada boosted their target price on Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $458.60.

Trane Technologies Stock Performance

Shares of TT traded down $3.65 during mid-day trading 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. The company has a market cap of $96.86 billion, a PE ratio of 34.52, a PEG ratio of 2.73 and a beta of 1.09. The company's fifty day simple moving average is $435.54 and its two-hundred 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. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.79 by $0.09. The company 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 36.61% and a net margin of 13.76%. The business's revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.30 EPS. On average, equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

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 issued 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 0.9%. Trane Technologies's dividend payout ratio (DPR) is 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.