Trane Technologies plc $TT Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 39.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,202 shares of the company’s stock after buying an additional 4,048 shares during the period. Exchange Traded Concepts LLC’s holdings in Trane Technologies were worth $5,993,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TT. Vanguard Group Inc. boosted its position in shares of Trane Technologies by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 19,792,410 shares of the company’s stock valued at $8,657,398,000 after acquiring an additional 335,634 shares during the last quarter. State Street Corp raised its stake in Trane Technologies by 0.3% during the second 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 period. Geode Capital Management LLC boosted its holdings in Trane Technologies by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock valued at $2,164,764,000 after purchasing an additional 56,293 shares during the last quarter. Norges Bank purchased a new stake in shares of Trane Technologies in the 2nd quarter valued at approximately $1,356,065,000. Finally, Nordea Investment Management AB increased its holdings 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 worth $1,066,845,000 after buying an additional 1,157,405 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TT has been the topic of a number of research analyst reports. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a research report on Monday, December 15th. Royal Bank Of Canada raised their price objective on Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a research report on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, October 8th. Wells Fargo & Company lowered their target price on shares of Trane Technologies from $415.00 to $375.00 and set an “underweight” rating for the company in a research note on Friday, December 19th. Finally, Citigroup boosted their price target on shares of Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Eight 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 company has a consensus rating of “Hold” and an average price target of $469.40.

Insider Buying and Selling

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the company’s stock in a transaction dated 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 in the company, valued at $3,145,120. This represents a 7.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by insiders.

Trane Technologies Stock Up 1.0%

Shares of NYSE:TT opened at $393.88 on Wednesday. The firm has a market capitalization of $87.34 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 2.25 and a beta of 1.19. 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 0.47, a current ratio of 1.20 and a quick ratio of 0.84. The firm’s 50-day moving average is $414.21 and its two-hundred day moving average is $422.18.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. The firm 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 business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

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 paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, December 5th. Trane Technologies’s dividend payout ratio (DPR) is presently 28.92%.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.