Rhumbline Advisers Raises Stake in Trane Technologies plc $TT

Rhumbline Advisers boosted its holdings in Trane Technologies plc (NYSE:TT) by 2.1% during the second quarter, Holdings Channel.com reports. The firm owned 450,232 shares of the company’s stock after acquiring an additional 9,222 shares during the quarter. Rhumbline Advisers’ holdings in Trane Technologies were worth $196,936,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TT. AlphaCore Capital LLC purchased a new stake in shares of Trane Technologies in the 2nd quarter worth approximately $831,000. Mufg Securities Americas Inc. boosted its holdings in Trane Technologies by 24.5% in the second quarter. Mufg Securities Americas Inc. now owns 4,942 shares of the company’s stock worth $2,162,000 after acquiring an additional 972 shares in the last quarter. Sfmg LLC grew its stake in shares of Trane Technologies by 3.0% in the second quarter. Sfmg LLC now owns 2,411 shares of the company’s stock worth $1,055,000 after acquiring an additional 71 shares during the last quarter. AXQ Capital LP bought a new position in shares of Trane Technologies during the second quarter valued at $501,000. Finally, Journey Strategic Wealth LLC raised its position in shares of Trane Technologies by 45.2% in the 2nd quarter. Journey Strategic Wealth LLC now owns 1,108 shares of the company’s stock worth $485,000 after purchasing an additional 345 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 600 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $440.00, for a total transaction of $264,000.00. Following the completion of the sale, the chief accounting officer owned 7,148 shares of the company’s stock, valued at $3,145,120. This represents a 7.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 22,497 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. Insiders own 0.14% of the company’s stock.

Trane Technologies Stock Up 2.6%

Shares of Trane Technologies stock opened at $410.64 on Friday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $419.41 and its 200 day moving average is $425.53. The company has a market cap of $91.05 billion, a price-to-earnings ratio of 32.56, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the firm posted $3.37 EPS. The firm’s 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. Research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio (DPR) is presently 28.92%.

Analysts Set New Price Targets

Several brokerages recently commented on TT. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Bank of America upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $490.00 to $550.00 in a report on Thursday, November 13th. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada lifted their target price on Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a report on Friday, October 31st. Seven equities 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $470.07.

About Trane Technologies

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.