BNP Paribas Financial Markets Purchases 143,799 Shares of Trane Technologies plc $TT

Key Points

• BNP Paribas Financial Markets has increased its stake in Trane Technologies by 38.5%, owning 517,426 shares valued at $174.3 million.
• Trane Technologies reported earnings per share (EPS) of $3.88 for its last quarter, beating estimates of $3.79, with a 7.6% year-on-year revenue growth to $5.75 billion.
• The company announced a quarterly dividend of $0.94 per share, which translates to an annualized payout of $3.76 and a yield of 0.9%.

BNP Paribas Financial Markets raised its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 38.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 517,426 shares of the company's stock after purchasing an additional 143,799 shares during the period. BNP Paribas Financial Markets owned 0.23% of Trane Technologies worth $174,331,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WFA Asset Management Corp increased its position in shares of Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $28,000. Opal Wealth Advisors LLC bought a new stake in shares of Trane Technologies during the first quarter valued at approximately $31,000. Finally, Bogart Wealth LLC increased its position in shares of Trane Technologies by 97.9% during the first 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 own 82.97% of the company's stock.

Wall Street Analyst Weigh In

TT has been the subject of several analyst reports. Northcoast Research downgraded shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, August 1st. UBS Group lifted their target price on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group lifted their target price on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Hsbc Global Res downgraded shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Finally, Wells Fargo & Company lifted their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. 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, Trane Technologies has an average rating of "Hold" and an average price target of $458.60.

Trane Technologies Stock Performance

Shares of TT stock traded down $9.15 during mid-day trading on Friday, reaching $415.35. 1,278,639 shares of the company's stock traded hands, compared to its average volume of 1,044,314. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The firm has a 50 day moving average price of $435.72 and a two-hundred day moving average price of $396.36. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The firm has a market capitalization of $92.42 billion, a PE ratio of 32.94, a price-to-earnings-growth ratio of 2.59 and a beta of 1.10.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results 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. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. Trane Technologies's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued 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 currently 29.82%.

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.