Morningstar Investment Management LLC Takes $820,000 Position in Trane Technologies plc $TT

Morningstar Investment Management LLC bought a new stake in Trane Technologies plc (NYSE:TT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,874 shares of the company’s stock, valued at approximately $820,000.

Several other large investors have also modified their holdings of TT. Brighton Jones LLC boosted its holdings in shares of Trane Technologies by 60.0% in the 4th 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. GAMMA Investing LLC boosted its holdings in shares of Trane Technologies by 5.5% in the 1st quarter. GAMMA Investing LLC now owns 5,983 shares of the company’s stock valued at $2,016,000 after buying an additional 314 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Trane Technologies during the 1st quarter worth $31,000. Ritholtz Wealth Management boosted its stake in Trane Technologies by 15.1% during the 1st quarter. Ritholtz Wealth Management now owns 1,493 shares of the company’s stock worth $503,000 after purchasing an additional 196 shares during the period. Finally, Sound Income Strategies LLC boosted its stake in Trane Technologies by 793.9% during the 1st quarter. Sound Income Strategies LLC now owns 885 shares of the company’s stock worth $298,000 after purchasing an additional 786 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.0%

TT stock opened at $418.14 on Tuesday. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. The stock has a market capitalization of $93.04 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 2.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The company has a fifty day moving average of $418.28 and a 200-day moving average of $410.08.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter last year, the business earned $3.30 EPS. The business’s revenue was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, analysts expect 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. Investors of record on Friday, December 5th will be paid a $0.94 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is 29.82%.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were 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 in the company, valued at $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

TT has been the subject of a number of recent research reports. The Goldman Sachs Group increased their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and increased their price target for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Wells Fargo & Company increased their price target on shares of Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. Finally, Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $457.73.

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.