Harbour Investments Inc. Raises Stock Holdings in Trane Technologies plc $TT

Harbour Investments Inc. increased its stake in shares of Trane Technologies plc (NYSE:TT) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,194 shares of the company’s stock after purchasing an additional 65 shares during the quarter. Harbour Investments Inc.’s holdings in Trane Technologies were worth $522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TT. Nuveen LLC acquired a new position in shares of Trane Technologies in the first quarter valued at approximately $877,468,000. Wellington Management Group LLP grew its stake in Trane Technologies by 245.1% in 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. raised its holdings in Trane Technologies by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after acquiring an additional 1,408,421 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Trane Technologies by 95.1% during the 1st quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock worth $291,727,000 after purchasing an additional 431,495 shares during the period. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Trane Technologies by 27.3% during the first quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company’s stock worth $645,343,000 after purchasing an additional 410,734 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the 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 directly owned 123,713 shares in the company, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $416.31 on Monday. The stock’s 50 day moving average price is $417.59 and its 200 day moving average price is $412.32. The stock has a market cap of $92.63 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 2.59 and a beta of 1.12. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the previous year, the company earned $3.30 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Equities 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. Stockholders of record on Friday, December 5th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, December 5th. Trane Technologies’s payout ratio is currently 29.82%.

Wall Street Analysts Forecast Growth

TT has been the topic of several recent analyst reports. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and increased their target price for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Robert W. Baird boosted their target price on shares of Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Finally, UBS Group boosted their price objective on shares of Trane Technologies from $500.00 to $544.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Six research analysts have rated the stock with a Buy rating, nine have assigned 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 a consensus target price of $464.29.

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.