Ieq Capital LLC Acquires 25,977 Shares of Trane Technologies plc $TT

Ieq Capital LLC grew its holdings in shares of Trane Technologies plc (NYSE:TT) by 119.3% in the first quarter, Holdings Channel reports. The institutional investor owned 47,758 shares of the company’s stock after acquiring an additional 25,977 shares during the period. Ieq Capital LLC’s holdings in Trane Technologies were worth $16,090,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TT. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Trane Technologies by 5.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 275,491 shares of the company’s stock valued at $92,818,000 after buying an additional 15,216 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Trane Technologies by 7.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,760 shares of the company’s stock worth $584,000 after acquiring an additional 123 shares during the last quarter. Groupe la Francaise boosted its holdings in Trane Technologies by 283.9% during the 1st quarter. Groupe la Francaise now owns 26,371 shares of the company’s stock worth $8,694,000 after acquiring an additional 19,501 shares during the last quarter. Allstate Corp grew its stake in shares of Trane Technologies by 30.8% in the 1st quarter. Allstate Corp now owns 8,633 shares of the company’s stock worth $2,909,000 after acquiring an additional 2,031 shares in the last quarter. Finally, Mccarter Private Wealth Services LLC raised its holdings in shares of Trane Technologies by 5.4% in the first quarter. Mccarter Private Wealth Services LLC now owns 4,100 shares of the company’s stock valued at $1,381,000 after purchasing an additional 209 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on TT shares. Morgan Stanley increased their price objective on shares of Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. UBS Group increased their price target on 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. boosted their price objective on Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Robert W. Baird upped their price objective on Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Finally, The Goldman Sachs Group lifted their target price on Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus target price of $458.60.

Trane Technologies Price Performance

NYSE TT opened at $424.54 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The company has a market cap of $94.46 billion, a PE ratio of 33.67, a price-to-earnings-growth ratio of 2.66 and a beta of 1.09. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The firm’s 50-day simple moving average is $435.69 and its two-hundred day simple moving average is $395.09.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The company 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 posted $3.30 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies’s payout ratio is presently 29.82%.

Trane Technologies 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.