Trane Technologies plc (NYSE:TT) Shares Acquired by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC increased its stake in Trane Technologies by 10.0%, holding 130,911 shares valued at approximately $44.1 million.
• Trane Technologies has a market capitalization of $96.86 billion and reported a quarterly earnings per share of $3.88, surpassing estimates.
• The company announced a quarterly dividend of $0.94 to be paid on September 30th, resulting in an annualized yield of 0.9%.

HighTower Advisors LLC boosted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 10.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,911 shares of the company's stock after purchasing an additional 11,873 shares during the period. HighTower Advisors LLC owned approximately 0.06% of Trane Technologies worth $44,106,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Trane Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company's stock valued at $6,555,377,000 after purchasing an additional 221,206 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock valued at $5,297,235,000 after purchasing an additional 1,408,421 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Trane Technologies by 4.1% during the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock valued at $1,234,908,000 after purchasing an additional 130,867 shares in the last quarter. Nuveen LLC acquired a new stake in Trane Technologies during the 1st quarter valued at $877,468,000. Finally, Northern Trust Corp grew its holdings in Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock valued at $948,316,000 after purchasing an additional 429,953 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TT. Citigroup increased their price objective on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research note on Monday, July 14th. HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and increased their price objective for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Wells Fargo & Company increased their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. UBS Group increased their price objective on shares of Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Northcoast Research downgraded shares of 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 issued a buy rating to the company. According to MarketBeat, Trane Technologies presently has an average rating of "Hold" and an average target price of $458.60.

Trane Technologies Trading Down 0.8%

Shares of NYSE:TT opened at $435.30 on Thursday. The company has a market cap of $96.86 billion, a PE ratio of 34.52, a P/E/G ratio of 2.73 and a beta of 1.09. The company's 50-day moving average price is $435.54 and its 200 day moving average price is $390.67. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. 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 (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate 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%. Trane Technologies's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $3.30 EPS. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 annualized dividend and a yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is currently 29.82%.

About Trane Technologies

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.

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