Geode Capital Management LLC Increases Stock Position in Trane Technologies plc $TT

Geode Capital Management LLC lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,071,072 shares of the company’s stock after acquiring an additional 14,179 shares during the period. Geode Capital Management LLC’s holdings in Trane Technologies were worth $1,964,896,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Tucker Asset Management LLC purchased a new position in shares of Trane Technologies during the fourth quarter worth approximately $25,000. United Community Bank grew its position in shares of Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after acquiring an additional 43 shares during the last quarter. JPL Wealth Management LLC purchased a new position in shares of Trane Technologies during the third quarter worth approximately $32,000. Creative Financial Designs Inc. ADV grew its position in shares of Trane Technologies by 119.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after acquiring an additional 49 shares during the last quarter. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in shares of Trane Technologies during the third quarter worth approximately $42,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David S. Regnery sold 36,045 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at approximately $40,978,950.12. This trade represents a 27.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 53,654 shares of company stock valued at $23,269,523. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT opened at $452.79 on Friday. The firm’s fifty day moving average price is $454.93 and its 200 day moving average price is $429.89. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $503.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The firm has a market cap of $100.09 billion, a price-to-earnings ratio of 35.02, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, April 30th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same period last year, the firm posted $2.45 EPS. Trane Technologies’s quarterly revenue was up 6.0% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 14.750-14.950 EPS. On average, sell-side analysts expect that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Wells Fargo & Company raised their target price on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. Barclays raised their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Citigroup lifted their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $506.56.

About Trane Technologies

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.