Trust Investment Advisors Sells 401 Shares of Trane Technologies plc $TT

Trust Investment Advisors lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 8.5% in the second quarter, Holdings Channel reports. The institutional investor owned 4,343 shares of the company’s stock after selling 401 shares during the period. Trane Technologies accounts for approximately 1.2% of Trust Investment Advisors’ holdings, making the stock its 23rd biggest position. Trust Investment Advisors’ holdings in Trane Technologies were worth $1,900,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Trane Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company’s stock worth $6,555,377,000 after acquiring an additional 221,206 shares during the period. JPMorgan Chase & Co. increased its position in shares of Trane Technologies by 9.8% during the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after purchasing an additional 1,408,421 shares during the period. Ameriprise Financial Inc. increased its position in shares of Trane Technologies by 7.2% during the first quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock valued at $1,208,044,000 after purchasing an additional 241,910 shares during the period. Nuveen LLC acquired a new position in shares of Trane Technologies in the first quarter valued at $877,468,000. Finally, Northern Trust Corp lifted its position in Trane Technologies by 0.7% in the first quarter. Northern Trust Corp now owns 2,584,819 shares of the company’s stock worth $870,877,000 after purchasing an additional 17,292 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the 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 sale, the chief executive officer owned 123,713 shares of the company’s stock, valued at $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on TT shares. The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and lifted their price objective for the company from $415.00 to $460.00 in a report on Thursday, July 31st. Barclays dropped their target price on Trane Technologies from $495.00 to $485.00 and set an “overweight” rating for the company in a report on Tuesday, September 16th. Finally, UBS Group upped their price target on Trane Technologies from $500.00 to $544.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $464.29.

Trane Technologies Stock Performance

NYSE:TT opened at $428.57 on Tuesday. The stock has a market capitalization of $95.36 billion, a P/E ratio of 33.99, a price-to-earnings-growth ratio of 2.65 and a beta of 1.12. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The firm has a 50 day moving average of $416.35 and a 200-day moving average of $416.32.

Trane Technologies (NYSE:TT) last released 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 during the quarter, compared to analysts’ expectations of $5.77 billion. During the same period last year, the firm posted $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, sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be issued 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 currently 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.