Federated Hermes Inc. Reduces Position in Trane Technologies plc (NYSE:TT)

Federated Hermes Inc. decreased its holdings in shares of Trane Technologies plc (NYSE:TT) by 20.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 644,259 shares of the company’s stock after selling 165,676 shares during the quarter. Federated Hermes Inc. owned about 0.29% of Trane Technologies worth $217,064,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. CWA Asset Management Group LLC grew its holdings in shares of Trane Technologies by 19.2% in the first quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company’s stock valued at $382,000 after purchasing an additional 183 shares during the period. 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 purchasing an additional 14,932 shares during the period. 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 purchasing an additional 2,323 shares during the period. 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 purchasing an additional 3,538 shares during the period. 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 purchasing an additional 1,198 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the sale, the insider directly owned 3,593 shares of the company’s stock, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Stock Up 0.1%

Shares of TT opened at $472.45 on Tuesday. The stock has a market capitalization of $105.37 billion, a PE ratio of 39.31, a P/E/G ratio of 3.07 and a beta of 1.15. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.19. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. The company’s 50-day simple moving average is $433.99 and its 200-day simple moving average is $386.90.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.25. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.94 earnings per share. Analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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 is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.80%. Trane Technologies’s dividend payout ratio (DPR) is 31.28%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TT shares. JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Barclays upped their price objective on shares of Trane Technologies from $476.00 to $480.00 and gave the company an “overweight” rating in a report on Wednesday, July 9th. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the company an “underweight” rating in a report on Tuesday, July 1st. Stephens raised shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price for the company in a research note on Thursday, May 1st. Finally, Royal Bank Of Canada increased their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $441.40.

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.