Commonwealth Retirement Investments LLC Takes $447,000 Position in Trane Technologies plc $TT

Commonwealth Retirement Investments LLC acquired a new stake in Trane Technologies plc (NYSE:TT) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,023 shares of the company’s stock, valued at approximately $447,000.

Other hedge funds also recently made changes to their positions in the company. Nuveen LLC acquired a new stake in shares of Trane Technologies during the 1st quarter worth about $877,468,000. Wellington Management Group LLP increased its position in shares of Trane Technologies by 245.1% during the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock worth $722,493,000 after purchasing an additional 1,522,933 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock worth $5,297,235,000 after purchasing an additional 1,408,421 shares in the last quarter. Nordea Investment Management AB grew its holdings in Trane Technologies by 89.1% during the 2nd quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock worth $1,066,845,000 after acquiring an additional 1,157,405 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Trane Technologies by 95.1% during the 1st quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock worth $291,727,000 after acquiring an additional 431,495 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In related 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 transaction, the chief executive officer owned 123,713 shares of the company’s stock, valued at $50,722,330. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total transaction of $264,000.00. Following the transaction, the chief accounting officer directly owned 7,148 shares in the company, valued at $3,145,120. The trade was a 7.74% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TT shares. Morgan Stanley increased their price objective on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Barclays increased their price objective on shares of Trane Technologies from $485.00 to $495.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Citigroup increased their price objective on shares of Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Robert W. Baird increased their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Finally, Royal Bank Of Canada increased their price objective on shares of Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a report on Friday, October 31st. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $466.50.

Trane Technologies Stock Down 3.1%

Shares of NYSE TT opened at $432.62 on Wednesday. The firm has a market capitalization of $96.27 billion, a PE ratio of 34.31, a price-to-earnings-growth ratio of 2.66 and a beta of 1.12. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The firm’s 50-day moving average is $417.99 and its 200-day moving average is $421.05.

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

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend 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 presently 28.92%.

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.