Trane Technologies plc $TT Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 14.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 280,405 shares of the company’s stock after selling 47,122 shares during the period. Bank of Montreal Can owned 0.13% of Trane Technologies worth $122,652,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Trane Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company’s stock worth $6,555,377,000 after purchasing an additional 221,206 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Trane Technologies by 9.8% during the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after buying an additional 1,408,421 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Trane Technologies by 7.2% during the first quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock valued at $1,208,044,000 after buying an additional 241,910 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Trane Technologies during the first quarter valued at $877,468,000. Finally, Northern Trust Corp grew its holdings in shares of Trane Technologies by 0.7% during the first quarter. Northern Trust Corp now owns 2,584,819 shares of the company’s stock valued at $870,877,000 after buying an additional 17,292 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

NYSE:TT opened at $446.29 on Tuesday. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. 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 firm has a market cap of $99.31 billion, a price-to-earnings ratio of 35.39, a PEG ratio of 2.66 and a beta of 1.12. The firm’s fifty day moving average is $417.86 and its two-hundred day moving average is $420.35.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.80 by $0.08. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period in the prior year, the company earned $3.37 earnings per share. 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 expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders 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 dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio is presently 28.92%.

Insider Activity

In other news, 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 transaction of $264,000.00. Following the sale, the chief accounting officer directly 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 legal filing with the SEC, which is available through this link. Also, 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 transaction of $9,223,770.00. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TT shares. Morgan Stanley boosted their price objective 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. The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Citigroup boosted their price objective on shares of Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a report on Friday. Northcoast Research lowered shares of Trane Technologies from a “buy” rating to a “neutral” rating in a report on Friday, August 1st. Finally, HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and boosted their price objective for the company from $415.00 to $460.00 in a report on Thursday, July 31st. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, 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.