AlTi Global Inc. Invests $261,000 in Trane Technologies plc $TT

AlTi Global Inc. bought a new position in shares of Trane Technologies plc (NYSE:TT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 598 shares of the company’s stock, valued at approximately $261,000.

A number of other institutional investors also recently modified their holdings of TT. Brighton Jones LLC boosted its holdings in shares of Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after purchasing an additional 2,323 shares during the period. GAMMA Investing LLC lifted its holdings in Trane Technologies by 5.5% in the first quarter. GAMMA Investing LLC now owns 5,983 shares of the company’s stock worth $2,016,000 after buying an additional 314 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Trane Technologies by 13.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,141 shares of the company’s stock worth $3,417,000 after buying an additional 1,198 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Trane Technologies by 495.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company’s stock worth $1,433,000 after buying an additional 3,538 shares during the period. Finally, Golden State Wealth Management LLC lifted its holdings in Trane Technologies by 338.7% in the first quarter. Golden State Wealth Management LLC now owns 465 shares of the company’s stock worth $157,000 after buying an additional 359 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Citigroup lowered their price objective on shares of Trane Technologies from $499.00 to $494.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Northcoast Research lowered shares of Trane Technologies from a “buy” rating to a “neutral” rating in a report on Friday, August 1st. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. UBS Group raised their price objective on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and lifted their target price for the company from $415.00 to $460.00 in a report on Thursday, July 31st. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $464.29.

Trane Technologies Price Performance

TT stock opened at $425.81 on Friday. The firm has a 50 day moving average price of $416.36 and a 200-day moving average price of $415.21. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The firm has a market capitalization of $94.75 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 2.65 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.09. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the business earned $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is 29.82%.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were 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 of the company’s stock, valued at $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 available at the SEC website. 0.14% of the stock is owned by company insiders.

Trane Technologies 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.