Trane Technologies plc $TT Shares Purchased by Allworth Financial LP

Allworth Financial LP raised its position in Trane Technologies plc (NYSE:TT) by 22.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,238 shares of the company’s stock after acquiring an additional 590 shares during the quarter. Allworth Financial LP’s holdings in Trane Technologies were worth $1,416,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Nuveen LLC acquired a new position in shares of Trane Technologies in the first quarter valued at approximately $877,468,000. Wellington Management Group LLP boosted its position in Trane Technologies by 245.1% in the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock valued at $722,493,000 after buying an additional 1,522,933 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Trane Technologies by 9.8% in the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock worth $5,297,235,000 after acquiring an additional 1,408,421 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Trane Technologies by 89.1% during the second quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock worth $1,066,845,000 after acquiring an additional 1,157,405 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Trane Technologies by 95.1% in the first quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock valued at $291,727,000 after acquiring an additional 431,495 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Down 1.7%

NYSE TT opened at $414.40 on Friday. The firm’s fifty day moving average price is $419.70 and its 200 day moving average price is $424.33. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The company has a market capitalization of $91.89 billion, a price-to-earnings ratio of 32.86, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.08. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter last year, the company posted $3.37 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 annualized dividend and a yield of 0.9%. Trane Technologies’s payout ratio is 28.92%.

Insider Buying and Selling

In other news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total value of $9,223,770.00. Following the completion of the sale, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total transaction of $264,000.00. Following the completion of the transaction, the chief accounting officer directly owned 7,148 shares in the company, valued at $3,145,120. The trade was a 7.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TT. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $490.00 to $550.00 in a research note on Thursday. Wells Fargo & Company lifted their price objective on Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a research note on Monday, October 6th. Barclays upped their target price on shares of Trane Technologies from $485.00 to $495.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and lifted their price target for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $472.07.

Trane Technologies 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.