Trane Technologies plc $TT Stake Reduced by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC cut its holdings in Trane Technologies plc (NYSE:TT) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,004 shares of the company’s stock after selling 31 shares during the quarter. Stonebridge Financial Group LLC’s holdings in Trane Technologies were worth $439,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Trane Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company’s stock worth $6,555,377,000 after buying an additional 221,206 shares during the period. JPMorgan Chase & Co. raised its holdings in Trane Technologies by 9.8% during 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 period. Ameriprise Financial Inc. raised its holdings in Trane Technologies by 7.2% during the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock worth $1,208,044,000 after buying an additional 241,910 shares during the period. Nuveen LLC acquired a new stake in Trane Technologies during the 1st quarter worth about $877,468,000. Finally, Northern Trust Corp raised its holdings in Trane Technologies by 0.7% during the 1st quarter. Northern Trust Corp now owns 2,584,819 shares of the company’s stock worth $870,877,000 after buying an additional 17,292 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on TT. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Barclays cut their price objective on Trane Technologies from $495.00 to $485.00 and set an “overweight” rating on the stock in a report on Tuesday, September 16th. The Goldman Sachs Group boosted their price objective on Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Morgan Stanley upped their target price on Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Finally, Robert W. Baird upped their target price on Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $457.73.

Trane Technologies Trading Down 1.1%

Shares of NYSE TT opened at $414.09 on Friday. The stock has a market cap of $92.14 billion, a price-to-earnings ratio of 32.84, a PEG ratio of 2.60 and a beta of 1.12. The business has a 50 day simple moving average of $418.60 and a 200 day simple moving average of $408.64. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. 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 (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.79 by $0.09. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s payout ratio is presently 29.82%.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the business’s 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 of the company’s stock, valued at approximately $50,722,330. The trade was a 15.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

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.