R Squared Ltd Reduces Position in Trane Technologies plc (NYSE:TT)

R Squared Ltd lessened its holdings in shares of Trane Technologies plc (NYSE:TT) by 38.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 740 shares of the company’s stock after selling 460 shares during the period. R Squared Ltd’s holdings in Trane Technologies were worth $249,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TT. Brighton Jones LLC grew its position 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 in the last quarter. Headlands Technologies LLC purchased a new stake in Trane Technologies in the 4th quarter valued at $131,000. PAX Financial Group LLC grew its holdings in Trane Technologies by 17.4% in the 4th quarter. PAX Financial Group LLC now owns 858 shares of the company’s stock valued at $317,000 after buying an additional 127 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in Trane Technologies by 60.9% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 4,109 shares of the company’s stock valued at $1,518,000 after buying an additional 1,556 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Trane Technologies by 8.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 298,261 shares of the company’s stock valued at $110,163,000 after purchasing an additional 24,157 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.2%

TT opened at $439.01 on Friday. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The business has a fifty day simple moving average of $435.56 and a 200-day simple moving average of $388.63. The firm has a market cap of $97.68 billion, a P/E ratio of 34.81, a P/E/G ratio of 2.83 and a beta of 1.09. The company has a quick ratio of 0.74, a current ratio of 1.10 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT) last announced its 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. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same period last year, the business posted $3.30 EPS. Trane Technologies’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is presently 29.82%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TT. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday. Citigroup increased their price target on shares of Trane Technologies from $445.00 to $502.00 and gave the company a “buy” rating in a research note on Monday, July 14th. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and increased their price target for the company from $415.00 to $460.00 in a research note on Thursday. UBS Group increased their price objective on Trane Technologies from $470.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Finally, Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price objective for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $455.67.

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.