Bedell Frazier Investment Counselling LLC Sells 155 Shares of Trane Technologies plc $TT

Bedell Frazier Investment Counselling LLC reduced its holdings in Trane Technologies plc (NYSE:TT) by 8.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,715 shares of the company’s stock after selling 155 shares during the quarter. Bedell Frazier Investment Counselling LLC’s holdings in Trane Technologies were worth $750,000 at the end of the most recent reporting period.

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

Trane Technologies Stock Down 1.0%

Shares of Trane Technologies stock opened at $413.83 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The company’s 50 day moving average price is $419.77 and its 200-day moving average price is $425.74. The stock has a market capitalization of $91.76 billion, a price-to-earnings ratio of 32.82, a P/E/G ratio of 2.66 and a beta of 1.16.

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

Trane Technologies Dividend Announcement

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

Insider Buying and Selling

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the sale, the chief accounting officer owned 7,148 shares in the company, valued at approximately $3,145,120. This trade represents a 7.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 22,497 shares of Trane Technologies 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 owned 123,713 shares in the company, valued at approximately $50,722,330. This represents a 15.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TT shares. Northcoast Research downgraded Trane Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, August 1st. Citigroup increased their price objective on Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Bank of America upgraded 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 report on Thursday, November 13th. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and increased their price target for the company from $415.00 to $460.00 in a research report on Thursday, July 31st. Finally, UBS Group boosted their price objective on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Seven 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. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $472.07.

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.