SouthState Corp Increases Stock Position in Trane Technologies plc (NYSE:TT)

SouthState Corp lifted its holdings in shares of Trane Technologies plc (NYSE:TTGet Rating) by 728.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 646 shares of the company’s stock after acquiring an additional 568 shares during the period. SouthState Corp’s holdings in Trane Technologies were worth $99,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. CIBC Asset Management Inc grew its position in Trane Technologies by 1.0% in the 1st quarter. CIBC Asset Management Inc now owns 13,038 shares of the company’s stock valued at $1,991,000 after buying an additional 134 shares during the last quarter. Legal Advantage Investments Inc. grew its position in Trane Technologies by 13.8% in the 1st quarter. Legal Advantage Investments Inc. now owns 4,098 shares of the company’s stock valued at $626,000 after buying an additional 498 shares during the last quarter. Valley National Advisers Inc. grew its position in Trane Technologies by 3.4% in the 1st quarter. Valley National Advisers Inc. now owns 3,048 shares of the company’s stock valued at $465,000 after buying an additional 100 shares during the last quarter. MUFG Americas Holdings Corp grew its position in Trane Technologies by 15.7% in the 1st quarter. MUFG Americas Holdings Corp now owns 3,258 shares of the company’s stock valued at $497,000 after buying an additional 442 shares during the last quarter. Finally, Buckley Wealth Management LLC grew its position in Trane Technologies by 32.1% in the 1st quarter. Buckley Wealth Management LLC now owns 6,060 shares of the company’s stock valued at $925,000 after buying an additional 1,473 shares during the last quarter. 80.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TT has been the topic of a number of analyst reports. Mizuho lifted their price objective on shares of Trane Technologies from $140.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday. Credit Suisse Group lifted their price objective on shares of Trane Technologies from $165.00 to $169.00 and gave the company an “outperform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Trane Technologies from $162.00 to $146.00 and set a “hold” rating on the stock in a research report on Wednesday, July 13th. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $123.00 to $133.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $132.00 to $151.00 and gave the stock a “neutral” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $170.13.

Trane Technologies Trading Down 0.3 %

NYSE:TT opened at $154.34 on Friday. The stock has a fifty day simple moving average of $134.28 and a 200-day simple moving average of $145.21. Trane Technologies plc has a 52-week low of $120.64 and a 52-week high of $204.23. The company has a market capitalization of $36.09 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04. The company has a quick ratio of 0.91, a current ratio of 1.09 and a debt-to-equity ratio of 0.66.

Trane Technologies (NYSE:TTGet Rating) last announced its earnings results on Wednesday, August 3rd. The company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.06. Trane Technologies had a net margin of 10.06% and a return on equity of 25.03%. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter in the previous year, the company posted $1.92 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts expect that Trane Technologies plc will post 7.08 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, September 1st. Trane Technologies’s payout ratio is 42.81%.

About Trane Technologies

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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.

See Also

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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