Trane Technologies plc $TT Shares Sold by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC reduced its stake in Trane Technologies plc by 2.1%, now holding 61,656 shares valued at approximately $20.77 million.
• Analysts have raised their price targets for Trane Technologies, with JPMorgan increasing it from $334 to $400 while maintaining a "neutral" rating.
• Trane Technologies recently announced a quarterly dividend of $0.94 per share, which will be distributed on September 30th, representing an annualized yield of 0.9%.

MetLife Investment Management LLC cut its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,656 shares of the company's stock after selling 1,333 shares during the quarter. MetLife Investment Management LLC's holdings in Trane Technologies were worth $20,773,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Trane Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company's stock valued at $6,555,377,000 after buying an additional 221,206 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Trane Technologies by 9.8% in the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock valued at $5,297,235,000 after buying an additional 1,408,421 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Trane Technologies by 7.2% in the first quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company's stock valued at $1,208,044,000 after buying an additional 241,910 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Trane Technologies in the first quarter valued at about $877,468,000. Finally, Northern Trust Corp grew its stake in shares of Trane Technologies by 0.7% in the first quarter. Northern Trust Corp now owns 2,584,819 shares of the company's stock valued at $870,877,000 after buying an additional 17,292 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TT has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Royal Bank Of Canada increased their target price on Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Wells Fargo & Company increased their target price on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Citigroup raised their price objective on 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 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. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $458.60.

Trane Technologies Price Performance

Shares of TT opened at $423.9190 on Monday. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The firm has a market cap of $94.33 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 2.64 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 $435.64 and a 200-day moving average of $394.22.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the previous year, the firm posted $3.30 EPS. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 dividend on an annualized basis and a yield of 0.9%. Trane Technologies's payout ratio is currently 29.82%.

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.

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