AustralianSuper Pty Ltd Decreases Position in Trane Technologies plc $TT

AustralianSuper Pty Ltd trimmed its position in Trane Technologies plc (NYSE:TT) by 8.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 252,950 shares of the company’s stock after selling 24,159 shares during the period. AustralianSuper Pty Ltd owned about 0.11% of Trane Technologies worth $110,643,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. NorthRock Partners LLC increased its position in shares of Trane Technologies by 1.2% during the second quarter. NorthRock Partners LLC now owns 2,052 shares of the company’s stock worth $898,000 after purchasing an additional 24 shares in the last quarter. Csenge Advisory Group lifted its holdings in Trane Technologies by 0.6% in the 1st quarter. Csenge Advisory Group now owns 3,944 shares of the company’s stock valued at $1,314,000 after purchasing an additional 25 shares in the last quarter. Confluence Wealth Services Inc. boosted its stake in Trane Technologies by 0.7% during the 2nd quarter. Confluence Wealth Services Inc. now owns 3,609 shares of the company’s stock worth $1,579,000 after purchasing an additional 25 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in shares of Trane Technologies by 23.4% during the first quarter. CBIZ Investment Advisory Services LLC now owns 137 shares of the company’s stock worth $46,000 after buying an additional 26 shares in the last quarter. Finally, Fiera Capital Corp raised its position in shares of Trane Technologies by 1.4% in the first quarter. Fiera Capital Corp now owns 1,930 shares of the company’s stock valued at $650,000 after buying an additional 27 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

NYSE:TT opened at $425.81 on Monday. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The stock’s fifty day moving average is $416.36 and its two-hundred day moving average is $415.72. The company has a market capitalization of $94.75 billion, a P/E ratio of 33.77, a P/E/G ratio of 2.65 and a beta of 1.12. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) 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 the consensus estimate of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Equities analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s payout ratio is 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TT. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and boosted their price target for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Citigroup reduced their price objective 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. 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. Finally, The Goldman Sachs Group raised their target price on Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $464.29.

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.