Allstate Corp Boosts Position in Trane Technologies plc $TT

Key Points

• Allstate Corp increased its stake in Trane Technologies by 30.8%, holding 8,633 shares valued at approximately $2.9 million, according to a recent 13F filing with the SEC.
• Several institutional investors, including Vanguard and JPMorgan Chase, have also raised their holdings in Trane Technologies, which now has 82.97% of its stock owned by institutional investors.
• Trane Technologies reported a net margin of 13.76% and a year-over-year revenue increase of 7.6%, with earnings of $3.88 per share for the last quarter, surpassing analysts' expectations.

Allstate Corp lifted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 30.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,633 shares of the company's stock after buying an additional 2,031 shares during the quarter. Allstate Corp's holdings in Trane Technologies were worth $2,909,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of TT. WFA Asset Management Corp grew its position 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 worth $25,000 after buying an additional 50 shares during the period. Minot DeBlois Advisors LLC bought a new position in shares of Trane Technologies in the 4th quarter worth $26,000. Vermillion & White Wealth Management Group LLC bought a new position in Trane Technologies during the 4th quarter valued at $28,000. Opal Wealth Advisors LLC bought a new position in Trane Technologies during the 1st quarter valued at $31,000. Finally, Bogart Wealth LLC lifted its stake in Trane Technologies by 97.9% during the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after acquiring an additional 46 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Performance

TT traded up $1.80 during trading hours on Thursday, hitting $425.99. The stock had a trading volume of 324,751 shares, compared to its average volume of 1,441,817. The company's fifty day simple moving average is $435.69 and its 200 day simple moving average is $395.09. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The stock has a market cap of $94.79 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 2.66 and a beta of 1.09. 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 announced its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping 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 company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same quarter last year, the firm posted $3.30 EPS. The firm'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. Equities analysts anticipate 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 given a dividend of $0.94 per share. 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 currently 29.82%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TT. Morgan Stanley raised their price objective on Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Robert W. Baird raised their price objective on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Wells Fargo & Company raised their price objective on 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 raised their price objective on Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, The Goldman Sachs Group lifted their target price on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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.