Trane Technologies plc $TT Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System decreased its holdings in Trane Technologies plc (NYSE:TT) by 0.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 214,880 shares of the company’s stock after selling 812 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Trane Technologies were worth $93,991,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its stake in Trane Technologies by 14.3% during the second quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 2,400 shares of the company’s stock valued at $1,050,000 after buying an additional 300 shares in the last quarter. Harfst & Associates Inc. boosted its holdings in Trane Technologies by 114.2% in the second quarter. Harfst & Associates Inc. now owns 3,964 shares of the company’s stock worth $1,734,000 after purchasing an additional 2,113 shares during the period. Quadrant Capital Group LLC increased its stake in Trane Technologies by 34.8% during the second quarter. Quadrant Capital Group LLC now owns 6,086 shares of the company’s stock valued at $2,662,000 after purchasing an additional 1,570 shares during the last quarter. Vinva Investment Management Ltd raised its holdings in shares of Trane Technologies by 58.4% during the second quarter. Vinva Investment Management Ltd now owns 18,767 shares of the company’s stock worth $8,113,000 after purchasing an additional 6,917 shares during the period. Finally, Employees Retirement System of Texas acquired a new position in shares of Trane Technologies in the 2nd quarter valued at about $794,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, CAO Elizabeth A. Elwell sold 600 shares of the company’s 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 22,497 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 123,713 shares in the company, valued at approximately $50,722,330. The trade was a 15.39% 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 insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TT. Citigroup increased their price target on Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Finally, Barclays raised their price objective on shares of Trane Technologies from $485.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Seven investment 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. Based on data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and an average target price of $470.07.

Trane Technologies Trading Up 0.4%

Trane Technologies stock opened at $420.30 on Friday. 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 $93.20 billion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16. The firm’s 50 day moving average price is $420.70 and its two-hundred day moving average price is $425.85. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. The business 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 firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, research analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal 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 given a dividend of $0.94 per share. 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 0.9%. 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.