Eastern Bank Has $322,000 Holdings in Trane Technologies plc $TT

Eastern Bank lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 95.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 656 shares of the company’s stock after selling 14,929 shares during the period. Eastern Bank’s holdings in Trane Technologies were worth $322,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank bought a new stake in Trane Technologies during the fourth quarter worth approximately $1,163,124,000. Capital International Investors bought a new position in shares of Trane Technologies in the fourth quarter valued at approximately $324,639,000. Amundi lifted its stake in shares of Trane Technologies by 47.8% in the first quarter. Amundi now owns 2,174,396 shares of the company’s stock worth $906,158,000 after buying an additional 703,018 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Trane Technologies by 536.6% in the first quarter. First Trust Advisors LP now owns 532,138 shares of the company’s stock worth $221,763,000 after buying an additional 448,547 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Trane Technologies by 215.9% during the 1st quarter. Hsbc Holdings PLC now owns 653,423 shares of the company’s stock worth $271,950,000 after buying an additional 446,598 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TT shares. Wall Street Zen raised Trane Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Sanford C. Bernstein set a $555.00 price objective on Trane Technologies in a research report on Thursday, July 9th. Citigroup decreased their target price on Trane Technologies from $570.00 to $566.00 and set a “buy” rating for the company in a research note on Friday, July 31st. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Evercore initiated coverage on Trane Technologies in a research report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $520.07.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $484.38 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 0.76. The business’s fifty day moving average price is $471.93 and its two-hundred day moving average price is $454.88. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The stock has a market capitalization of $106.57 billion, a price-to-earnings ratio of 36.70, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, July 30th. The company reported $4.31 earnings per share for the quarter, topping the consensus estimate of $4.27 by $0.04. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter last year, the business posted $3.88 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. As a group, analysts predict that Trane Technologies plc will post 15.27 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio is 31.82%.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.