Washington Trust Bank Trims Stock Position in Trane Technologies plc $TT

Washington Trust Bank trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 37.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 936 shares of the company’s stock after selling 565 shares during the period. Washington Trust Bank’s holdings in Trane Technologies were worth $409,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TT. Ameriflex Group Inc. purchased a new stake in shares of Trane Technologies during the second quarter worth about $28,000. Hantz Financial Services Inc. grew its stake in Trane Technologies by 1,016.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after acquiring an additional 61 shares during the period. Saudi Central Bank acquired a new stake in Trane Technologies in the 1st quarter valued at $30,000. Bogart Wealth LLC raised its position in Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the period. Finally, Dagco Inc. acquired a new position in shares of Trane Technologies during the first quarter worth about $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TT. Morgan Stanley upped their price target on Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Royal Bank Of Canada boosted their price objective on Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a report on Friday, October 31st. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and raised their target price for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. Citigroup upped their price objective on shares of Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Robert W. Baird lifted their price target on Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $466.50.

Trane Technologies Trading Down 0.0%

Shares of TT stock opened at $435.97 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $96.67 billion, a P/E ratio of 34.57, a P/E/G ratio of 2.66 and a beta of 1.16. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The firm has a 50-day moving average price of $418.44 and a 200 day moving average price of $421.26.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.80 by $0.08. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same period in the prior year, the firm earned $3.37 earnings per share. Trane Technologies’s revenue was up 5.5% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company 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. The ex-dividend date is Friday, December 5th. This represents a $3.76 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 28.92%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total transaction of $264,000.00. Following the completion of the sale, the chief accounting officer owned 7,148 shares in the company, valued at approximately $3,145,120. The trade was a 7.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 22,497 shares of Trane Technologies 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 of the company’s stock, valued at approximately $50,722,330. This trade represents a 15.39% 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 company insiders.

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.