Trane Technologies plc (NYSE:TT) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC reduced its stake in Trane Technologies by 15.8%, owning 17,959 shares valued at approximately $6.05 million after the sale.
• Recent earnings reported a year-over-year revenue increase of 7.6%, showing an EPS of $3.88, which exceeded the consensus estimate by $0.09.
• Trane Technologies announced a quarterly dividend of $0.94 per share, representing an annual yield of 0.9%, scheduled for payment on September 30th.

Mizuho Securities USA LLC lowered its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 15.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,959 shares of the company's stock after selling 3,368 shares during the quarter. Mizuho Securities USA LLC's holdings in Trane Technologies were worth $6,051,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. WFA Asset Management Corp increased its position in Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new stake in Trane Technologies during the 4th quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Trane Technologies during the 4th quarter worth approximately $28,000. Opal Wealth Advisors LLC acquired a new stake in Trane Technologies during the 1st quarter worth approximately $31,000. Finally, Bogart Wealth LLC increased its position in Trane Technologies by 97.9% during the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on TT shares. Royal Bank Of Canada increased their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. 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 report on Tuesday, August 5th. 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 report 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 report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $458.60.

Trane Technologies Stock Performance

Trane Technologies stock opened at $430.09 on Friday. The stock 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. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average of $435.42 and a 200-day moving average of $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 released its 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. The company had revenue of $5.75 billion during the quarter, compared to analysts' expectations 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 period in the prior year, the business posted $3.30 EPS. On average, analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal 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 paid a dividend of $0.94 per share. 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.