Trane Technologies plc $TT Shares Sold by Bryce Point Capital LLC

Bryce Point Capital LLC lessened its stake in Trane Technologies plc (NYSE:TT) by 7.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,051 shares of the company’s stock after selling 175 shares during the quarter. Trane Technologies comprises about 0.8% of Bryce Point Capital LLC’s holdings, making the stock its 29th largest holding. Bryce Point Capital LLC’s holdings in Trane Technologies were worth $897,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bridgewater Advisors Inc. increased its holdings in shares of Trane Technologies by 7.7% in the second quarter. Bridgewater Advisors Inc. now owns 646 shares of the company’s stock valued at $298,000 after purchasing an additional 46 shares during the last quarter. Freestone Capital Holdings LLC acquired a new stake in Trane Technologies during the second quarter worth $206,000. Westside Investment Management Inc. increased its stake in Trane Technologies by 222.7% during the second quarter. Westside Investment Management Inc. now owns 142 shares of the company’s stock worth $62,000 after acquiring an additional 98 shares during the last quarter. State of Michigan Retirement System increased its stake in Trane Technologies by 0.3% during the second quarter. State of Michigan Retirement System now owns 64,413 shares of the company’s stock worth $28,175,000 after acquiring an additional 200 shares during the last quarter. Finally, Carson Advisory Inc. acquired a new stake in Trane Technologies during the second quarter worth $245,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the sale, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at $50,722,330. The trade was a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $440.00, for a total value of $264,000.00. Following the sale, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at $3,145,120. This trade represents a 7.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is owned by insiders.

Trane Technologies Trading Down 0.5%

NYSE:TT opened at $446.29 on Tuesday. The firm has a market cap of $99.31 billion, a PE ratio of 35.39, a price-to-earnings-growth ratio of 2.66 and a beta of 1.12. The stock has a fifty day moving average price of $417.86 and a 200 day moving average price of $420.35. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. 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 (NYSE:TT) last released its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.80 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.Trane Technologies’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share 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. Shareholders of record on Friday, December 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s payout ratio is 28.92%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. UBS Group raised their target price on Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Robert W. Baird lifted their price objective on Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and raised their target price for the company from $415.00 to $460.00 in a report on Thursday, July 31st. Citigroup raised their target price on Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a report on Friday. Finally, Morgan Stanley raised their target price on Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Six research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $466.50.

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.