Vanguard Group Inc. Has $6.56 Billion Stock Position in Trane Technologies plc (NYSE:TT)

Key Points

• Vanguard Group Inc. increased its stake in Trane Technologies plc by 1.1%, now holding approximately 19.46 million shares valued at $6.56 billion, which accounts for 8.72% of the company.
• Trane Technologies reported $3.88 EPS for the last quarter, exceeding estimates, with revenue of $5.75 billion and a net margin of 13.76%.
• The company has declared a quarterly dividend of $0.94 per share, translating to an annualized yield of 0.9%, with an ex-dividend date set for September 5th.

Vanguard Group Inc. boosted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 1.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 19,456,776 shares of the company's stock after buying an additional 221,206 shares during the period. Vanguard Group Inc. owned approximately 8.72% of Trane Technologies worth $6,555,377,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of TT. WFA Asset Management Corp grew its stake in Trane Technologies by 208.3% in the 1st 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 last quarter. Minot DeBlois Advisors LLC acquired a new position in Trane Technologies in the 4th quarter valued at about $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in Trane Technologies in the 4th quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Trane Technologies during the 1st quarter worth approximately $31,000. Finally, Bogart Wealth LLC grew its position in shares of Trane Technologies by 97.9% during the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $426.79 on Thursday. The company has a market cap of $94.97 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 2.67 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The firm has a 50 day simple moving average of $435.50 and a 200 day simple moving average of $389.47. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.79 by $0.09. The business 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%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.30 EPS. Research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies's dividend payout ratio is 29.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Northcoast Research lowered shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. increased their target price 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. HSBC lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and increased their target price for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. Finally, Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $458.60.

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.

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