Advisors Asset Management Inc. Raises Stock Position in Trane Technologies plc $TT

Advisors Asset Management Inc. lifted its stake in Trane Technologies plc (NYSE:TT) by 6.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,495 shares of the company’s stock after buying an additional 318 shares during the quarter. Advisors Asset Management Inc.’s holdings in Trane Technologies were worth $2,404,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Nuveen LLC purchased a new stake in Trane Technologies in the 1st quarter worth $877,468,000. Wellington Management Group LLP raised its holdings 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 acquiring an additional 1,522,933 shares during the period. JPMorgan Chase & Co. grew its position in Trane Technologies by 9.8% in the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock worth $5,297,235,000 after acquiring an additional 1,408,421 shares during the period. Nordea Investment Management AB lifted its position in Trane Technologies by 89.1% in the second quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock valued at $1,066,845,000 after buying an additional 1,157,405 shares during the last quarter. Finally, ABN AMRO Bank N.V. acquired a new position in shares of Trane Technologies in the 2nd quarter worth approximately $291,206,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 0.5%

NYSE:TT opened at $421.75 on Friday. The stock has a fifty day simple moving average of $421.00 and a 200-day simple moving average of $425.89. The company has a market capitalization of $93.52 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16. Trane Technologies plc has a 52-week low of $298.15 and a 52-week 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.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.08. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the previous year, the firm posted $3.37 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced 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 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 28.92%.

Analysts Set New Price Targets

A number of analysts have issued reports on TT shares. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research note on Monday, October 6th. Northcoast Research downgraded shares of Trane Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, August 1st. Royal Bank Of Canada raised their price objective on Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. Finally, Citigroup upped their price target on Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Seven 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $470.07.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction on 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 completion of the sale, the chief executive officer owned 123,713 shares of the company’s stock, valued at $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction dated 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 owned 7,148 shares in the company, valued at approximately $3,145,120. The trade was a 7.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is owned by insiders.

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.