Wilmington Savings Fund Society FSB Cuts Stock Holdings in Trane Technologies plc $TT

Wilmington Savings Fund Society FSB decreased its holdings in shares of Trane Technologies plc (NYSE:TT) by 10.3% during the second quarter, HoldingsChannel reports. The firm owned 8,411 shares of the company’s stock after selling 970 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Trane Technologies were worth $3,679,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TT. Brighton Jones LLC increased its position in Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after purchasing an additional 2,323 shares during the period. GAMMA Investing LLC increased its position in Trane Technologies by 5.5% during the 1st quarter. GAMMA Investing LLC now owns 5,983 shares of the company’s stock valued at $2,016,000 after purchasing an additional 314 shares during the period. Opal Wealth Advisors LLC purchased a new position in Trane Technologies during the 1st quarter valued at about $31,000. Ritholtz Wealth Management increased its position in Trane Technologies by 15.1% during the 1st quarter. Ritholtz Wealth Management now owns 1,493 shares of the company’s stock valued at $503,000 after purchasing an additional 196 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Trane Technologies by 515.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 9,916 shares of the company’s stock valued at $3,341,000 after buying an additional 8,305 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.1%

TT stock opened at $423.51 on Wednesday. The firm has a 50 day moving average of $418.18 and a 200 day moving average of $410.17. The stock has a market capitalization of $94.23 billion, a PE ratio of 33.59, a price-to-earnings-growth ratio of 2.60 and a beta of 1.12. 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.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.79 by $0.09. The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. Trane Technologies’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the business earned $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, December 5th. Trane Technologies’s payout ratio is presently 29.82%.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 123,713 shares in the company, valued at approximately $50,722,330. The trade was a 15.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TT. Barclays lowered their price target on shares of Trane Technologies from $495.00 to $485.00 and set an “overweight” rating on the stock in a report on Tuesday, September 16th. Northcoast Research cut shares of Trane Technologies from a “buy” rating to a “neutral” rating in a report on Friday, August 1st. Morgan Stanley raised their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Wells Fargo & Company raised their price target on shares of Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a report on Monday, October 6th. Finally, HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and raised their price target for the company from $415.00 to $460.00 in a report on Thursday, July 31st. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Trane Technologies has an average rating of “Hold” and an average price target of $457.73.

Trane Technologies 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.