Horizon Investments LLC Lowers Holdings in Trane Technologies plc $TT

Key Points

• Horizon Investments LLC reduced its stake in Trane Technologies plc by 36.5%, holding 5,855 shares valued at approximately $1.97 million after the sale.
• Trane Technologies reported quarterly earnings of $3.88 EPS, slightly exceeding analysts' estimates, but its revenue of $5.75 billion fell short of expectations.
• The company declared a quarterly dividend of $0.94, resulting in an annualized dividend yield of 0.9%, with a payout ratio of approximately 29.82%.

Horizon Investments LLC decreased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 36.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,855 shares of the company's stock after selling 3,366 shares during the quarter. Horizon Investments LLC's holdings in Trane Technologies were worth $1,973,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TT. Csenge Advisory Group lifted its holdings in Trane Technologies by 0.6% during the first quarter. Csenge Advisory Group now owns 3,944 shares of the company's stock valued at $1,314,000 after purchasing an additional 25 shares in the last quarter. Fiera Capital Corp lifted its holdings in Trane Technologies by 1.4% during the first quarter. Fiera Capital Corp now owns 1,930 shares of the company's stock valued at $650,000 after purchasing an additional 27 shares in the last quarter. Bingham Private Wealth LLC lifted its holdings in Trane Technologies by 3.2% during the first quarter. Bingham Private Wealth LLC now owns 944 shares of the company's stock valued at $318,000 after purchasing an additional 29 shares in the last quarter. Tradewinds Capital Management LLC lifted its holdings in Trane Technologies by 46.2% during the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after purchasing an additional 30 shares in the last quarter. Finally, Smith Group Asset Management LLC lifted its holdings in Trane Technologies by 1.2% during the first quarter. Smith Group Asset Management LLC now owns 2,610 shares of the company's stock valued at $879,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Trading Down 1.3%

Trane Technologies stock traded down $5.6160 during midday trading on Wednesday, hitting $423.1740. 471,085 shares of the stock were exchanged, compared to its average volume of 1,456,046. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The stock has a market capitalization of $94.16 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 2.67 and a beta of 1.09. The stock's 50-day simple moving average is $435.55 and its 200 day simple moving average is $392.58. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating analysts' consensus estimates 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 period last year, the business earned $3.30 earnings per share. The business's revenue for the quarter was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TT shares. 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 report on Friday, May 16th. 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 report on Tuesday, July 1st. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a report on Thursday, May 1st. Citigroup increased their target price on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Finally, Hsbc Global Res cut shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $458.60.

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.