Trane Technologies plc (NYSE:TT) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its stake in Trane Technologies by 6.7%, selling 57,747 shares and now holding 809,681 shares worth approximately $272.8 million.
• Wall Street analysts have varied ratings for Trane Technologies, with a consensus rating of "Hold" and an average price target of $458.60.
• The company declared a quarterly dividend of $0.94 per share, with a dividend yield of 0.9%, set to be paid on September 30th.

Deutsche Bank AG decreased its stake in Trane Technologies plc (NYSE:TT - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 809,681 shares of the company's stock after selling 57,747 shares during the quarter. Deutsche Bank AG owned approximately 0.36% of Trane Technologies worth $272,798,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Minot DeBlois Advisors LLC acquired a new position in Trane Technologies during the fourth quarter worth about $26,000. WFA Asset Management Corp boosted 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 worth $25,000 after acquiring an additional 50 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Trane Technologies during the fourth quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new position in Trane Technologies during the first quarter worth about $31,000. Finally, Bogart Wealth LLC boosted its position in Trane Technologies by 97.9% during the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after acquiring an additional 46 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Up 0.5%

Shares of Trane Technologies stock traded up $1.98 during trading hours on Friday, hitting $430.09. The company had a trading volume of 755,558 shares, compared to its average volume of 1,346,768. The company's 50-day moving average is $435.42 and its two-hundred day moving average is $389.90. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. 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 company has a market cap of $95.70 billion, a P/E ratio of 34.11, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.77 billion. During the same quarter in the prior year, the business posted $3.30 EPS. The company's revenue for the quarter was up 7.6% on a year-over-year basis. Analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies's dividend payout ratio is presently 29.82%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TT. UBS Group boosted their price target on shares of Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research note on Tuesday. Morgan Stanley boosted their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Northcoast Research downgraded 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 note on Monday, July 14th. Finally, Robert W. Baird boosted their price target on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $458.60.

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.