Penserra Capital Management LLC Buys 440 Shares of Trane Technologies plc $TT

Penserra Capital Management LLC grew its stake in Trane Technologies plc (NYSE:TT) by 39.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,542 shares of the company’s stock after acquiring an additional 440 shares during the quarter. Penserra Capital Management LLC’s holdings in Trane Technologies were worth $673,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Ameriflex Group Inc. bought a new position in Trane Technologies in the second quarter worth about $28,000. Hantz Financial Services Inc. grew its position in shares of 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 buying an additional 61 shares during the last quarter. Saudi Central Bank bought a new position in shares of Trane Technologies during the 1st quarter worth approximately $30,000. Bogart Wealth LLC lifted its position in Trane Technologies by 97.9% during the first quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares during the last quarter. Finally, Dagco Inc. acquired a new stake in Trane Technologies in the first quarter valued at approximately $37,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Trading Down 2.8%

Shares of NYSE:TT opened at $421.20 on Wednesday. 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 plc has a 52-week low of $298.15 and a 52-week high of $476.18. The stock has a market cap of $93.40 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 2.66 and a beta of 1.16. The business has a 50-day moving average price of $419.39 and a 200-day moving average price of $424.42.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, topping 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 company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the company earned $3.37 EPS. Trane Technologies’s quarterly revenue was up 5.5% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, December 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s payout ratio is currently 28.92%.

Insider Buying and Selling 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 value of $264,000.00. Following the sale, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at approximately $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction dated 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 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 disclosure for this sale is available in the SEC filing. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TT. Wells Fargo & Company increased their price objective on Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a report on Monday, October 6th. Morgan Stanley upped their target price on Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and increased their price target for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Royal Bank Of Canada boosted their price target on Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a research note on Friday, October 31st. Finally, 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. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and a consensus price target 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.