Trane Technologies plc $TT Stake Lowered by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,802 shares of the company’s stock after selling 25 shares during the period. Sovereign Financial Group Inc.’s holdings in Trane Technologies were worth $788,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Trane Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company’s stock valued at $6,555,377,000 after acquiring an additional 221,206 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after acquiring an additional 1,408,421 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Trane Technologies by 7.2% during the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock valued at $1,208,044,000 after acquiring an additional 241,910 shares in the last quarter. Nuveen LLC purchased a new position in shares of Trane Technologies during the 1st quarter valued at $877,468,000. Finally, Northern Trust Corp grew its holdings 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 hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TT shares. Citigroup reduced their price objective on shares of Trane Technologies from $499.00 to $494.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Northcoast Research lowered shares of Trane Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, August 1st. Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Robert W. Baird lifted their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Finally, The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus target price of $457.73.

Trane Technologies Stock Down 1.1%

Trane Technologies stock opened at $414.09 on Friday. The firm has a market cap of $92.14 billion, a price-to-earnings ratio of 32.84, a P/E/G ratio of 2.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The firm has a fifty day moving average price of $418.60 and a two-hundred day moving average price of $409.03.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $0.09. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current 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 given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s payout ratio is currently 29.82%.

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the transaction, the chief executive officer owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.

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.