AQR Capital Management LLC Cuts Stock Position in Trane Technologies plc $TT

AQR Capital Management LLC trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 866,645 shares of the company’s stock after selling 18,394 shares during the period. AQR Capital Management LLC owned 0.39% of Trane Technologies worth $376,245,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in TT. Brighton Jones LLC grew its stake in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after buying an additional 2,323 shares in the last quarter. Sit Investment Associates Inc. boosted its stake in shares of Trane Technologies by 7.5% in the first quarter. Sit Investment Associates Inc. now owns 5,705 shares of the company’s stock valued at $1,922,000 after purchasing an additional 400 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in shares of Trane Technologies by 12.5% in the first quarter. Kovitz Investment Group Partners LLC now owns 3,958 shares of the company’s stock valued at $1,333,000 after purchasing an additional 439 shares during the period. Dimensional Fund Advisors LP grew its holdings in Trane Technologies by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 797,692 shares of the company’s stock valued at $268,699,000 after purchasing an additional 4,085 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Trane Technologies by 35.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,195 shares of the company’s stock worth $740,000 after buying an additional 576 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Down 3.1%

NYSE:TT opened at $391.07 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.20 and a quick ratio of 0.84. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The business has a 50 day simple moving average of $418.54 and a 200 day simple moving average of $424.34. The firm has a market capitalization of $86.72 billion, a P/E ratio of 30.08, a P/E/G ratio of 2.32 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period in the previous year, the business posted $3.37 EPS. Trane Technologies’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. Equities research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Citigroup raised their price objective on Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Wells Fargo & Company upped their target price on Trane Technologies from $410.00 to $415.00 and gave the company 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 target price for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. Finally, Barclays lifted their price target 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. 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. According to MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and an average target price of $470.07.

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 sale, the chief accounting officer owned 7,148 shares of the company’s stock, valued at $3,145,120. The trade was a 7.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by corporate insiders.

About Trane Technologies

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.