Trane Technologies plc $TT Shares Acquired by Janus Henderson Group PLC

Janus Henderson Group PLC increased its stake in shares of Trane Technologies plc (NYSE:TT) by 10.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,878,018 shares of the company’s stock after buying an additional 180,537 shares during the quarter. Janus Henderson Group PLC owned about 0.85% of Trane Technologies worth $782,707,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc raised its stake in shares of Trane Technologies by 12.2% in the first quarter. Bell Investment Advisors Inc now owns 203 shares of the company’s stock worth $85,000 after purchasing an additional 22 shares during the last quarter. Fiduciary Family Office LLC boosted its position in Trane Technologies by 1.5% in the fourth quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock valued at $612,000 after buying an additional 23 shares during the last quarter. Foster Dykema Cabot & Partners LLC increased its holdings in Trane Technologies by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company’s stock worth $93,000 after buying an additional 23 shares during the period. Bridges Investment Management Inc. raised its position in Trane Technologies by 1.6% during the 4th quarter. Bridges Investment Management Inc. now owns 1,542 shares of the company’s stock worth $600,000 after buying an additional 24 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its stake in Trane Technologies by 14.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 190 shares of the company’s stock valued at $79,000 after acquiring an additional 24 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $446.90 on Thursday. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87. The business’s 50 day moving average is $470.96 and its two-hundred day moving average is $452.15. The company has a market capitalization of $98.79 billion, a P/E ratio of 34.56, a P/E/G ratio of 2.16 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.45 earnings per share. Analysts expect that Trane Technologies plc will post 14.89 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 32.48%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Friday, July 17th. JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Royal Bank Of Canada increased their price target on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Citigroup lifted their price objective on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, KeyCorp boosted their price objective on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $516.67.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.