US Bancorp DE Cuts Stock Holdings in Trane Technologies plc (NYSE:TT)

Key Points

• US Bancorp DE has reduced its stake in Trane Technologies plc by 7.1%, holding 67,917 shares valued at approximately $22.88 million after selling 5,194 shares in Q1.
• Analysts have varied views on Trane Technologies, with price targets ranging from $400 to $502, reflecting a consensus rating of "Hold" with an average price target of $455.67.
• The company recently declared a quarterly dividend of $0.94 per share, representing a yield of 0.9%, with a payout ratio of 29.82%.

US Bancorp DE decreased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 7.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,917 shares of the company's stock after selling 5,194 shares during the period. US Bancorp DE's holdings in Trane Technologies were worth $22,883,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of TT. Minot DeBlois Advisors LLC acquired a new position in shares of Trane Technologies during the fourth quarter worth approximately $26,000. WFA Asset Management Corp raised its stake in shares of Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after buying an additional 50 shares during the period. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new position in 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% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after purchasing an additional 46 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Trading Up 0.3%

Shares of Trane Technologies stock traded up $1.15 during trading on Thursday, reaching $428.18. 769,939 shares of the company were exchanged, compared to its average volume of 1,490,227. The firm has a market capitalization of $95.28 billion, a price-to-earnings ratio of 33.96, a P/E/G ratio of 2.67 and a beta of 1.09. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The business has a 50-day moving average price of $435.50 and a 200-day moving average price of $389.47. 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 posted its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.77 billion. During the same period in the previous year, the firm earned $3.30 EPS. The firm's revenue was up 7.6% compared to the same quarter last year. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company 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. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio is currently 29.82%.

Analysts Set New Price Targets

A number of brokerages have commented on TT. The Goldman Sachs Group lifted their price target on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada upped their price target on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Morgan Stanley upped their price target on Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Hsbc Global Res downgraded Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $458.60.

About Trane Technologies

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.