Trane Technologies plc $TT Shares Sold by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 15.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 19,842 shares of the company’s stock after selling 3,705 shares during the period. Trane Technologies comprises about 1.4% of Arcadia Investment Management Corp MI’s portfolio, making the stock its 23rd largest holding. Arcadia Investment Management Corp MI’s holdings in Trane Technologies were worth $8,679,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the stock. Nuveen LLC purchased a new position in Trane Technologies in the 1st quarter worth about $877,468,000. Wellington Management Group LLP boosted its position in shares of Trane Technologies by 245.1% in the first quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock worth $722,493,000 after buying an additional 1,522,933 shares during the period. JPMorgan Chase & Co. boosted its position in Trane Technologies by 9.8% during the 1st 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 during the period. Nordea Investment Management AB boosted its holdings 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 purchasing an additional 1,157,405 shares during the period. Finally, AQR Capital Management LLC grew its position in Trane Technologies by 95.1% during the first quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock valued at $291,727,000 after purchasing an additional 431,495 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trane Technologies

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 the business’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total transaction of $264,000.00. Following the transaction, the chief accounting officer directly owned 7,148 shares in the company, valued at $3,145,120. This trade represents a 7.74% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TT. Wells Fargo & Company increased their target price on shares of Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research report on Monday, October 6th. Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $490.00 to $550.00 in a report on Thursday. Royal Bank Of Canada boosted their target price on Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. upped their target price on Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Finally, Northcoast Research lowered Trane Technologies from a “buy” rating to a “neutral” rating in a report on Friday, August 1st. Seven investment 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $472.07.

Trane Technologies Trading Up 0.9%

Shares of TT stock opened at $418.60 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $419.79 and its two-hundred day moving average is $424.80. The company has a market cap of $92.82 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18.

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

Trane Technologies Announces Dividend

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

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.