Entropy Technologies LP Has $1.44 Million Stake in Trane Technologies plc (NYSE:TT)

Key Points

• Entropy Technologies LP has reduced its stake in Trane Technologies plc by 63.5%, now holding 4,280 shares worth approximately $1.44 million.
• Trane Technologies reported $3.88 earnings per share for the last quarter, surpassing estimates and reflecting a 7.6% revenue year-over-year increase.
• The company announced a quarterly dividend of $0.94 per share with a yield of 0.9%, set to be paid at the end of September.

Entropy Technologies LP cut its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 63.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,280 shares of the company's stock after selling 7,458 shares during the period. Entropy Technologies LP's holdings in Trane Technologies were worth $1,442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. WFA Asset Management Corp increased its holdings in shares of 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 last quarter. Minot DeBlois Advisors LLC acquired a new stake in Trane Technologies in the 4th quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new stake in shares of Trane Technologies in the 1st quarter worth approximately $31,000. Finally, Bogart Wealth LLC lifted its position in shares of Trane Technologies by 97.9% in the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after acquiring an additional 46 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 2.6%

NYSE TT traded up $10.98 on Tuesday, reaching $439.05. The company had a trading volume of 1,225,620 shares, compared to its average volume of 1,332,460. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The stock's 50 day moving average is $435.49 and its 200-day moving average is $390.36. 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 $97.69 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 2.67 and a beta of 1.09.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results 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. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the prior year, the firm posted $3.30 earnings per share. The company's quarterly revenue was up 7.6% on a year-over-year basis. Equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TT shares. UBS Group raised 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. Morgan Stanley raised their target price on Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. HSBC downgraded Trane Technologies from a "buy" rating to a "hold" rating and raised their target price for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. Barclays raised their target price on Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Hsbc Global Res downgraded Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $458.60.

Trane Technologies Company 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.