JPMorgan Chase & Co. grew its position in Trane Technologies plc (NYSE:TT) by 16.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,521,374 shares of the company’s stock after acquiring an additional 1,801,310 shares during the quarter. JPMorgan Chase & Co. owned about 0.05% of Trane Technologies worth $2,073,038,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in TT. Sterling Financial Planning Inc. acquired a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $26,000. Arkadios Wealth Advisors grew its stake in shares of Trane Technologies by 180.0% during the 4th quarter. Arkadios Wealth Advisors now owns 182 shares of the company’s stock worth $26,000 after purchasing an additional 117 shares during the period. Evolution Wealth Advisors LLC increased its holdings in shares of Trane Technologies by 239.1% in the 1st quarter. Evolution Wealth Advisors LLC now owns 156 shares of the company’s stock valued at $26,000 after purchasing an additional 110 shares in the last quarter. Manchester Financial Inc. grew its position in Trane Technologies by 310.5% during the first quarter. Manchester Financial Inc. now owns 156 shares of the company’s stock worth $26,000 after buying an additional 118 shares during the period. Finally, GPS Wealth Strategies Group LLC purchased a new stake in shares of Trane Technologies during the 1st quarter worth approximately $28,000. Institutional investors own 78.62% of the company’s stock.
A number of analysts recently commented on TT shares. Royal Bank of Canada lifted their price objective on Trane Technologies from $164.00 to $181.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 6th. Morgan Stanley increased their price target on shares of Trane Technologies from $187.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, May 6th. Barclays upped their price target on Trane Technologies from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, May 6th. They noted that the move was a valuation call. Credit Suisse Group raised their price target on shares of Trane Technologies from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, May 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Trane Technologies from $157.00 to $184.00 and gave the company a “hold” rating in a report on Thursday, May 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Trane Technologies currently has an average rating of “Hold” and a consensus price target of $165.73.
Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, May 5th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.39. Trane Technologies had a return on equity of 19.52% and a net margin of 8.72%. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period last year, the company posted $0.43 EPS. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. On average, equities analysts predict that Trane Technologies plc will post 6.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Friday, September 3rd will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, September 2nd. Trane Technologies’s dividend payout ratio is presently 52.91%.
Trane Technologies Company Profile
Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services climate control products for heating, ventilation, air conditioning, and transport solutions. 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.
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