DAVENPORT & Co LLC Sells 2,647 Shares of Trane Technologies plc $TT

DAVENPORT & Co LLC lessened its position in Trane Technologies plc (NYSE:TT) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 216,455 shares of the company’s stock after selling 2,647 shares during the period. DAVENPORT & Co LLC’s holdings in Trane Technologies were worth $90,969,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of TT. Vanguard Group Inc. grew its holdings in shares of Trane Technologies by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 19,792,410 shares of the company’s stock valued at $8,657,398,000 after buying an additional 335,634 shares during the period. State Street Corp lifted its holdings in Trane Technologies by 0.3% during the second quarter. State Street Corp now owns 10,077,267 shares of the company’s stock worth $4,407,904,000 after acquiring an additional 31,826 shares in the last quarter. Geode Capital Management LLC grew its stake in Trane Technologies by 1.1% in the second quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock valued at $2,164,764,000 after acquiring an additional 56,293 shares during the period. Norges Bank bought a new stake in shares of Trane Technologies in the second quarter worth about $1,356,065,000. Finally, Nordea Investment Management AB increased its holdings in shares of Trane Technologies by 89.1% in the second quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock worth $1,066,845,000 after acquiring an additional 1,157,405 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TT shares. Barclays lifted their price objective on Trane Technologies from $485.00 to $495.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Royal Bank Of Canada upped their price target on shares of Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. KeyCorp raised shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective for the company in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Finally, Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $490.00 to $550.00 in a report on Thursday, November 13th. Eight 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $469.40.

Insiders Place Their Bets

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the business’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 transaction, the chief accounting officer owned 7,148 shares of the company’s stock, valued at $3,145,120. The trade was 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. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Up 1.0%

Trane Technologies stock opened at $393.88 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The company has a fifty day simple moving average of $414.21 and a 200 day simple moving average of $422.18. The company has a market cap of $87.34 billion, a P/E ratio of 30.30, a price-to-earnings-growth ratio of 2.25 and a beta of 1.19.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.80 by $0.08. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.80 billion. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.37 EPS. 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 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, December 5th. Trane Technologies’s dividend payout ratio (DPR) is currently 28.92%.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.