Palmer Knight Co Has $6.37 Million Position in Trane Technologies plc $TT

Palmer Knight Co reduced its stake in Trane Technologies plc (NYSE:TT) by 0.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 14,558 shares of the company’s stock after selling 28 shares during the quarter. Trane Technologies makes up 2.7% of Palmer Knight Co’s investment portfolio, making the stock its 25th largest holding. Palmer Knight Co’s holdings in Trane Technologies were worth $6,368,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in TT. Brighton Jones LLC increased its position in Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after buying an additional 2,323 shares during the period. GAMMA Investing LLC increased its position in Trane Technologies by 5.5% in the 1st quarter. GAMMA Investing LLC now owns 5,983 shares of the company’s stock worth $2,016,000 after buying an additional 314 shares during the period. CWA Asset Management Group LLC increased its position in Trane Technologies by 19.2% in the 1st quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company’s stock worth $382,000 after buying an additional 183 shares during the period. Johnson Investment Counsel Inc. increased its position in Trane Technologies by 22.5% in the 1st quarter. Johnson Investment Counsel Inc. now owns 1,577 shares of the company’s stock worth $531,000 after buying an additional 290 shares during the period. Finally, Blue Trust Inc. increased its position in Trane Technologies by 5.2% in the 1st quarter. Blue Trust Inc. now owns 2,801 shares of the company’s stock worth $944,000 after buying an additional 138 shares during the period. 82.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the company’s stock in a transaction 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 sale, the chief executive officer directly owned 123,713 shares in the company, valued at $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on TT shares. Citigroup dropped their price target on Trane Technologies from $499.00 to $494.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and lifted their price target for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research report on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Finally, Morgan Stanley boosted their price objective on Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $464.29.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $416.31 on Friday. The business’s fifty day moving average price is $417.59 and its two-hundred day moving average price is $411.75. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The stock has a market capitalization of $92.63 billion, a price-to-earnings ratio of 33.01, a price-to-earnings-growth ratio of 2.58 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 (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the prior year, the business posted $3.30 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

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.