Trane Technologies plc $TT Position Lessened by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,907 shares of the company’s stock after selling 581 shares during the period. Trane Technologies accounts for 1.5% of Wakefield Asset Management LLLP’s portfolio, making the stock its 8th biggest position. Wakefield Asset Management LLLP’s holdings in Trane Technologies were worth $5,208,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Carson Advisory Inc. purchased a new position in shares of Trane Technologies during the second quarter valued at approximately $245,000. Plato Investment Management Ltd increased its stake in shares of Trane Technologies by 0.5% during the second quarter. Plato Investment Management Ltd now owns 11,192 shares of the company’s stock valued at $4,878,000 after buying an additional 55 shares during the period. Atlas Private Wealth Advisors grew its stake in Trane Technologies by 0.7% in the second quarter. Atlas Private Wealth Advisors now owns 4,121 shares of the company’s stock worth $1,802,000 after purchasing an additional 29 shares during the period. Kesler Norman & Wride LLC grew its stake in Trane Technologies by 1.1% in the second quarter. Kesler Norman & Wride LLC now owns 2,672 shares of the company’s stock worth $1,169,000 after purchasing an additional 29 shares during the period. Finally, Saxony Capital Management LLC purchased a new stake in Trane Technologies in the second quarter worth $258,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Up 0.6%

TT stock opened at $448.95 on Friday. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The business’s 50-day moving average is $417.33 and its two-hundred day moving average is $418.93. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The company has a market cap of $99.90 billion, a price-to-earnings ratio of 35.60, a P/E/G ratio of 2.66 and a beta of 1.12.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the company earned $3.37 earnings per share. Trane Technologies’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. As a group, analysts forecast that Trane Technologies plc will post 12.83 earnings per share 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 issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.8%. Trane Technologies’s dividend payout ratio is currently 28.92%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total value of $9,223,770.00. Following the transaction, the chief executive officer owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This represents a 15.39% 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. Also, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the transaction, the chief accounting officer directly owned 7,148 shares in the company, valued at approximately $3,145,120. This represents a 7.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TT shares. Wells Fargo & Company boosted their target price on Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a report on Monday, October 6th. Royal Bank Of Canada boosted 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. UBS Group upped their price target on Trane Technologies from $500.00 to $544.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and upped their price target for the company from $415.00 to $460.00 in a report on Thursday, July 31st. Finally, Morgan Stanley upped their price target on Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $466.50.

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.