OLD National Bancorp IN increased its position in Trane Technologies plc (NYSE:TT – Free Report) by 7.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,894 shares of the company’s stock after buying an additional 133 shares during the quarter. OLD National Bancorp IN’s holdings in Trane Technologies were worth $348,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Moisand Fitzgerald Tamayo LLC boosted its holdings in Trane Technologies by 1,125.0% in the fourth quarter. Moisand Fitzgerald Tamayo LLC now owns 147 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. RFP Financial Group LLC bought a new stake in Trane Technologies in the fourth quarter valued at $26,000. Delta Asset Management LLC TN bought a new stake in Trane Technologies in the fourth quarter valued at $27,000. Live Oak Investment Partners bought a new stake in Trane Technologies in the fourth quarter valued at $30,000. Finally, Bartlett & Co. LLC boosted its holdings in Trane Technologies by 155.4% in the fourth quarter. Bartlett & Co. LLC now owns 189 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares in the last quarter. 81.23% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the stock. 92 Resources restated a “maintains” rating on shares of Trane Technologies in a report on Thursday, May 4th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Trane Technologies from $184.00 to $183.00 and set a “hold” rating on the stock in a report on Wednesday, April 12th. UBS Group boosted their target price on shares of Trane Technologies from $200.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, March 7th. Wells Fargo & Company dropped their target price on shares of Trane Technologies from $176.00 to $163.00 and set an “underweight” rating on the stock in a report on Thursday, April 13th. Finally, Barclays boosted their target price on shares of Trane Technologies from $200.00 to $201.00 in a report on Thursday, May 4th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $182.58.
Trane Technologies Price Performance
Trane Technologies (NYSE:TT – Free Report) last released its quarterly earnings results on Wednesday, May 3rd. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.33 by $0.08. Trane Technologies had a net margin of 11.06% and a return on equity of 30.11%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, analysts expect that Trane Technologies plc will post 8.44 earnings per share for the current year.
Trane Technologies Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, August 31st. Trane Technologies’s payout ratio is currently 38.86%.
Trane Technologies Company 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.
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