Trillium Asset Management LLC Buys 22,428 Shares of Trane Technologies plc (NYSE:TT)

Key Points

• Trillium Asset Management LLC increased its stake in Trane Technologies plc by 21.6%, acquiring an additional 22,428 shares to total 126,150 shares, which represents 1.2% of its investment portfolio.
• Trane Technologies announced a quarterly dividend of $0.94 per share, which translates to an annualized dividend of $3.76, with a dividend yield of 0.9%.
• Wall Street analysts generally rate Trane Technologies shares as "Hold," with a consensus average price target of $458.60, despite some mixed ratings from various analysts.

Trillium Asset Management LLC boosted its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 21.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 126,150 shares of the company's stock after acquiring an additional 22,428 shares during the quarter. Trane Technologies accounts for approximately 1.2% of Trillium Asset Management LLC's investment portfolio, making the stock its 18th biggest holding. Trillium Asset Management LLC owned 0.06% of Trane Technologies worth $42,503,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. CWA Asset Management Group LLC lifted its position in Trane Technologies by 19.2% in the 1st quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock valued at $382,000 after acquiring an additional 183 shares in the last quarter. Ethic Inc. grew its holdings in shares of Trane Technologies by 150.1% in the fourth quarter. Ethic Inc. now owns 24,883 shares of the company's stock valued at $9,190,000 after acquiring an additional 14,932 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after acquiring an additional 2,323 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Trane Technologies by 495.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company's stock valued at $1,433,000 after acquiring an additional 3,538 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Trane Technologies by 13.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,141 shares of the company's stock valued at $3,417,000 after acquiring an additional 1,198 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on TT. Wells Fargo & Company upped their target price on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a report on Thursday, May 1st. Royal Bank Of Canada lifted their price target on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Northcoast Research cut shares of Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. Finally, Barclays lifted their price target on shares of Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Trane Technologies presently has an average rating of "Hold" and a consensus price target of $458.60.

Trane Technologies Stock Performance

Trane Technologies stock traded down $3.65 during mid-day trading on Wednesday, reaching $435.30. The company's stock had a trading volume of 1,182,293 shares, compared to its average volume of 1,352,713. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The company has a market capitalization of $96.86 billion, a P/E ratio of 34.52, a PEG ratio of 2.73 and a beta of 1.09. 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's fifty day moving average price is $435.54 and its two-hundred day moving average price is $390.67.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.30 EPS. Sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies's payout ratio is 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.