Ameriprise Financial Inc. Has $1.29 Billion Position in Trane Technologies plc $TT

Ameriprise Financial Inc. trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 17.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,945,782 shares of the company’s stock after selling 639,518 shares during the period. Ameriprise Financial Inc. owned approximately 1.32% of Trane Technologies worth $1,288,497,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TT. Vanguard Group Inc. increased its position in Trane Technologies by 1.7% during the second quarter. Vanguard Group Inc. now owns 19,792,410 shares of the company’s stock worth $8,657,398,000 after acquiring an additional 335,634 shares during the period. State Street Corp grew its position in Trane Technologies by 0.3% in the 2nd quarter. State Street Corp now owns 10,077,267 shares of the company’s stock worth $4,407,904,000 after purchasing an additional 31,826 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Trane Technologies by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock worth $2,164,764,000 after purchasing an additional 56,293 shares during the period. Norges Bank acquired a new position in shares of Trane Technologies in the second quarter valued at $1,356,065,000. Finally, Northern Trust Corp boosted its position in shares of Trane Technologies by 0.7% during the 1st quarter. Northern Trust Corp now owns 2,584,819 shares of the company’s stock valued at $870,877,000 after acquiring an additional 17,292 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 related news, CAO Elizabeth A. Elwell sold 600 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,145,120. The trade was a 7.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, October 8th. Citigroup raised their price target on Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a report on Friday, October 31st. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $490.00 to $550.00 in a report on Thursday, November 13th. Barclays raised their target price on Trane Technologies from $485.00 to $495.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Finally, Wells Fargo & Company upped their price target on Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a research note on Monday, October 6th. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $470.07.

Trane Technologies Price Performance

TT stock opened at $391.07 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The stock has a market cap of $86.72 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 2.32 and a beta of 1.19. The stock has a 50-day moving average price of $418.54 and a two-hundred day moving average price of $424.34.

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. 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 13.93% and a return on equity of 37.04%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio (DPR) is presently 28.92%.

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.