AMJ Financial Wealth Management Trims Stock Holdings in Trane Technologies plc $TT

AMJ Financial Wealth Management lowered its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,305 shares of the company’s stock after selling 303 shares during the quarter. Trane Technologies accounts for 2.1% of AMJ Financial Wealth Management’s portfolio, making the stock its 22nd biggest holding. AMJ Financial Wealth Management’s holdings in Trane Technologies were worth $8,444,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Trane Technologies during the second quarter valued at $1,356,065,000. Nuveen LLC bought a new stake in Trane Technologies during the 1st quarter valued at about $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 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 acquiring an additional 1,408,421 shares in the last quarter. Finally, 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. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TT. Wells Fargo & Company increased their price objective on Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research note on Monday, October 6th. UBS Group upped their target price on Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. Royal Bank Of Canada upped their price objective on shares of Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a research note on Friday, October 31st. Finally, Barclays increased their target price on shares of Trane Technologies from $485.00 to $495.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $470.07.

Insider Transactions at Trane Technologies

In other Trane Technologies news, 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 value of $264,000.00. Following the transaction, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at approximately $3,145,120. The trade was a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock opened at $410.14 on Tuesday. The stock’s 50-day moving average is $421.06 and its 200 day moving average is $425.88. Trane Technologies plc has a 1-year low of $298.15 and a 1-year 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 cap of $90.94 billion, a P/E ratio of 32.52, a PEG ratio of 2.66 and a beta of 1.16.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the previous year, the company posted $3.37 earnings per share. The firm’s 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. Research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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