Retirement Systems of Alabama reduced its stake in shares of Trane Technologies plc (NYSE:TT – Get Rating) by 1.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 77,378 shares of the company’s stock after selling 1,330 shares during the quarter. Retirement Systems of Alabama’s holdings in Trane Technologies were worth $11,816,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $482,000. Keybank National Association OH grew its stake in shares of Trane Technologies by 8.1% during the fourth quarter. Keybank National Association OH now owns 31,545 shares of the company’s stock valued at $6,373,000 after purchasing an additional 2,356 shares during the last quarter. Peterson Wealth Services grew its stake in shares of Trane Technologies by 21.5% during the first quarter. Peterson Wealth Services now owns 1,431 shares of the company’s stock valued at $219,000 after purchasing an additional 253 shares during the last quarter. BLB&B Advisors LLC grew its stake in shares of Trane Technologies by 2.0% during the fourth quarter. BLB&B Advisors LLC now owns 41,329 shares of the company’s stock valued at $8,350,000 after purchasing an additional 815 shares during the last quarter. Finally, BOKF NA grew its stake in shares of Trane Technologies by 1.1% during the fourth quarter. BOKF NA now owns 10,583 shares of the company’s stock valued at $2,138,000 after purchasing an additional 118 shares during the last quarter. 80.55% of the stock is currently owned by institutional investors and hedge funds.
TT opened at $131.37 on Monday. The firm’s fifty day moving average is $134.10 and its two-hundred day moving average is $154.41. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 1.31. The firm has a market cap of $30.72 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 1.65 and a beta of 1.02. Trane Technologies plc has a twelve month low of $120.64 and a twelve month high of $207.06.
Trane Technologies (NYSE:TT – Get Rating) last posted its earnings results on Wednesday, May 4th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.12. The company had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.15 billion. Trane Technologies had a net margin of 10.01% and a return on equity of 23.67%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the business posted $1.01 earnings per share. Equities analysts forecast that Trane Technologies plc will post 7.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be issued a $0.67 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $2.68 annualized dividend and a yield of 2.04%. Trane Technologies’s dividend payout ratio (DPR) is presently 44.59%.
Several research firms have recently commented on TT. Morgan Stanley decreased their price target on shares of Trane Technologies from $169.00 to $155.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 31st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Trane Technologies from $171.00 to $162.00 in a research note on Thursday, May 5th. Credit Suisse Group cut their price objective on shares of Trane Technologies from $194.00 to $178.00 in a report on Thursday, May 5th. Barclays cut their price objective on shares of Trane Technologies from $180.00 to $165.00 and set an “overweight” rating on the stock in a report on Tuesday, May 24th. Finally, Wells Fargo & Company cut their price objective on shares of Trane Technologies from $131.00 to $124.00 and set an “underweight” rating on the stock in a report on Wednesday, June 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $176.43.
Trane Technologies Profile (Get Rating)
Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.
Further Reading
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