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

Janus Henderson Group PLC grew its holdings in Trane Technologies plc (NYSE:TT) by 10.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,878,018 shares of the company’s stock after buying an additional 180,537 shares during the period. Janus Henderson Group PLC’s holdings in Trane Technologies were worth $782,707,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in TT. Farther Finance Advisors LLC lifted its holdings in Trane Technologies by 64.0% in the fourth quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock valued at $2,911,000 after acquiring an additional 2,917 shares during the last quarter. Dara Capital US Inc. purchased a new stake in Trane Technologies in the fourth quarter valued at $966,000. ProCore Advisors LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $939,000. Horizon Investments LLC lifted its stake in shares of Trane Technologies by 115.4% in the 4th quarter. Horizon Investments LLC now owns 30,560 shares of the company’s stock valued at $11,894,000 after purchasing an additional 16,370 shares during the last quarter. Finally, Buffalo Business & Estate Services Ltd. purchased a new position in shares of Trane Technologies during the 4th quarter worth $4,325,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on TT shares. Sanford C. Bernstein set a $555.00 price objective on shares of Trane Technologies in a report on Thursday, July 9th. Barclays increased their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Royal Bank Of Canada boosted their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Evercore assumed coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $516.67.

Trane Technologies Trading Down 4.9%

Shares of TT stock opened at $446.90 on Thursday. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The company has a 50 day moving average price of $470.96 and a 200 day moving average price of $452.15. The stock has a market capitalization of $98.79 billion, a P/E ratio of 34.56, a price-to-earnings-growth ratio of 2.16 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same period in the prior year, the business earned $2.45 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Equities research analysts predict that Trane Technologies plc will post 14.89 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

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.