Financial Engines Advisors L.L.C. Grows Stock Holdings in Trane Technologies plc (NYSE:TT)

Financial Engines Advisors L.L.C. raised its stake in Trane Technologies plc (NYSE:TT) by 3.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 6,582 shares of the company’s stock after buying an additional 232 shares during the period. Financial Engines Advisors L.L.C.’s holdings in Trane Technologies were worth $2,217,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TT. Nuveen LLC purchased a new stake in Trane Technologies in the 1st quarter valued at about $877,468,000. GAMMA Investing LLC increased its position in Trane Technologies by 35,458.2% during the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company’s stock valued at $679,161,000 after purchasing an additional 2,010,123 shares during the period. JPMorgan Chase & Co. increased its position in Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after purchasing an additional 1,408,421 shares during the period. Northern Trust Corp increased its position in Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock valued at $948,316,000 after purchasing an additional 429,953 shares during the period. Finally, Pictet Asset Management Holding SA increased its position in Trane Technologies by 27.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company’s stock valued at $645,343,000 after purchasing an additional 410,734 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. UBS Group raised their target price on shares of Trane Technologies from $500.00 to $544.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. 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 research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $458.60.

Trane Technologies Price Performance

Shares of TT stock opened at $428.22 on Tuesday. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The firm has a market capitalization of $95.28 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 2.68 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The stock’s 50-day simple moving average is $435.38 and its 200-day simple moving average is $390.02.

Trane Technologies (NYSE:TT) last issued its quarterly 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 quarter in the previous year, the firm earned $3.30 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. As a group, equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

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.