JPMorgan Chase & Co. Grows Stock Position in Trane Technologies plc (NYSE:TT)

JPMorgan Chase & Co. grew its position in shares of Trane Technologies plc (NYSE:TT) by 16.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,521,374 shares of the company’s stock after buying an additional 1,801,310 shares during the period. JPMorgan Chase & Co. owned 5.24% of Trane Technologies worth $2,073,038,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. E Fund Management Co. Ltd. purchased a new stake in shares of Trane Technologies in the first quarter worth $69,000. Norinchukin Bank The raised its holdings in shares of Trane Technologies by 0.9% in the 1st quarter. Norinchukin Bank The now owns 19,832 shares of the company’s stock valued at $3,283,000 after acquiring an additional 180 shares in the last quarter. Brinker Capital Investments LLC boosted its position in shares of Trane Technologies by 236.0% during the 1st quarter. Brinker Capital Investments LLC now owns 36,200 shares of the company’s stock valued at $5,993,000 after acquiring an additional 25,426 shares during the last quarter. Sciencast Management LP purchased a new position in shares of Trane Technologies during the first quarter worth about $2,638,000. Finally, Strategy Asset Managers LLC increased its position in shares of Trane Technologies by 5.5% in the first quarter. Strategy Asset Managers LLC now owns 1,713 shares of the company’s stock worth $284,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 78.62% of the company’s stock.

TT traded up $0.27 during midday trading on Friday, reaching $183.96. The company had a trading volume of 10,343 shares, compared to its average volume of 1,099,399. The company’s 50-day moving average price is $177.47. The company has a current ratio of 1.59, a quick ratio of 1.26 and a debt-to-equity ratio of 0.71. Trane Technologies plc has a 1 year low of $84.17 and a 1 year high of $189.93. The firm has a market capitalization of $43.99 billion, a P/E ratio of 39.85, a P/E/G ratio of 1.39 and a beta of 0.93.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, May 5th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.39. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.85 billion. Trane Technologies had a net margin of 8.72% and a return on equity of 19.52%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Research analysts forecast that Trane Technologies plc will post 6.11 EPS for the current fiscal 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 issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, September 2nd. Trane Technologies’s dividend payout ratio (DPR) is presently 52.91%.

A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $206.00 price objective for the company in a report on Tuesday, May 18th. BMO Capital Markets increased their target price on Trane Technologies from $170.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, May 12th. Royal Bank of Canada boosted their price objective on Trane Technologies from $164.00 to $181.00 and gave the company a “sector perform” rating in a research report on Thursday, May 6th. Credit Suisse Group raised their target price on Trane Technologies from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, May 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Trane Technologies from $157.00 to $184.00 and gave the company a “hold” rating in a research note on Thursday, May 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $165.73.

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

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