Condor Capital Management Decreases Stake in Trane Technologies plc (NYSE:TT)

Condor Capital Management reduced its position in Trane Technologies plc (NYSE:TT) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,749 shares of the company’s stock after selling 84 shares during the period. Condor Capital Management’s holdings in Trane Technologies were worth $5,306,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Trane Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company’s stock valued at $6,555,377,000 after purchasing an additional 221,206 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Trane Technologies by 4.1% during the fourth quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company’s stock valued at $1,234,908,000 after buying an additional 130,867 shares during the last quarter. Northern Trust Corp grew its stake in shares of Trane Technologies by 20.1% during the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock valued at $948,316,000 after buying an additional 429,953 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Trane Technologies by 1.6% during the fourth quarter. Nuveen Asset Management LLC now owns 2,332,626 shares of the company’s stock valued at $861,555,000 after buying an additional 37,389 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Trane Technologies by 8.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,319,287 shares of the company’s stock valued at $856,629,000 after buying an additional 177,206 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Up 0.5%

Shares of NYSE TT opened at $430.09 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $95.70 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 2.67 and a beta of 1.09. The stock’s fifty day simple moving average is $435.42 and its two-hundred day simple moving average is $389.97. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18.

Trane Technologies (NYSE:TT) 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. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the prior year, the business posted $3.30 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts expect 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. Investors of record on Friday, September 5th will be issued 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 payout ratio is presently 29.82%.

Analysts Set New Price Targets

A number of research firms have recently commented on TT. Stephens raised Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price on the stock in a research note on Thursday, May 1st. Robert W. Baird increased their price objective on Trane Technologies from $396.00 to $450.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Wells Fargo & Company increased their price objective on Trane Technologies from $370.00 to $410.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 1st. Citigroup increased their price objective on Trane Technologies from $445.00 to $502.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Finally, Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and an average price target of $458.60.

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.