Cwm LLC Raises Stake in Trane Technologies plc $TT

Cwm LLC increased its stake in Trane Technologies plc (NYSE:TT) by 18.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 23,573 shares of the company’s stock after buying an additional 3,592 shares during the quarter. Cwm LLC’s holdings in Trane Technologies were worth $10,311,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nuveen LLC bought a new stake in Trane Technologies in the 1st quarter valued at about $877,468,000. Wellington Management Group LLP raised its stake in Trane Technologies by 245.1% in the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock valued at $722,493,000 after acquiring an additional 1,522,933 shares during the period. JPMorgan Chase & Co. raised its stake in Trane Technologies by 9.8% in 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 during the period. AQR Capital Management LLC raised its stake in Trane Technologies by 95.1% in the 1st quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock valued at $291,727,000 after acquiring an additional 431,495 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in Trane Technologies by 27.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company’s stock valued at $645,343,000 after acquiring an additional 410,734 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TT shares. Barclays lowered their price objective on Trane Technologies from $495.00 to $485.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. The Goldman Sachs Group upped their price target on Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Wells Fargo & Company upped their price target on Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a research report on Monday, October 6th. Finally, Robert W. Baird upped their price target on Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $457.73.

Trane Technologies Stock Up 1.1%

TT stock opened at $423.51 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $418.18 and its 200 day moving average is $410.17. The stock has a market cap of $94.23 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 2.60 and a beta of 1.12. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.09. The company had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. Trane Technologies’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal 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 given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, December 5th. Trane Technologies’s dividend payout ratio is 29.82%.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 123,713 shares in the company, valued at approximately $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.