Geode Capital Management LLC Buys 56,293 Shares of Trane Technologies plc $TT

Geode Capital Management LLC boosted its position in shares of Trane Technologies plc (NYSE:TT) by 1.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,973,217 shares of the company’s stock after buying an additional 56,293 shares during the period. Geode Capital Management LLC owned approximately 2.24% of Trane Technologies worth $2,164,764,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. NorthRock Partners LLC grew its holdings in shares of Trane Technologies by 1.2% in the second quarter. NorthRock Partners LLC now owns 2,052 shares of the company’s stock valued at $898,000 after purchasing an additional 24 shares in the last quarter. King Luther Capital Management Corp grew its stake in shares of Trane Technologies by 1.3% in the 2nd quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock worth $849,000 after buying an additional 24 shares in the last quarter. Csenge Advisory Group grew its stake in shares of Trane Technologies by 0.6% in the 1st quarter. Csenge Advisory Group now owns 3,944 shares of the company’s stock worth $1,314,000 after buying an additional 25 shares in the last quarter. Confluence Wealth Services Inc. lifted its holdings in shares of Trane Technologies by 0.7% in the 2nd quarter. Confluence Wealth Services Inc. now owns 3,609 shares of the company’s stock valued at $1,579,000 after acquiring an additional 25 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its position in Trane Technologies by 23.4% during the first quarter. CBIZ Investment Advisory Services LLC now owns 137 shares of the company’s stock valued at $46,000 after purchasing an additional 26 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of analyst reports. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and raised their price target for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. Wells Fargo & Company increased their price target on Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a report on Monday, October 6th. JPMorgan Chase & Co. increased their target price on Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Citigroup raised their price target on shares of Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Royal Bank Of Canada raised their target price on shares of Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a research report on Friday, October 31st. Six equities 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $466.50.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the business’s stock in a transaction dated 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 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $440.00, for a total value of $264,000.00. Following the sale, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at $3,145,120. This trade represents a 7.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Price Performance

TT opened at $421.20 on Wednesday. The firm has a market capitalization of $93.40 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The business’s 50-day moving average is $419.39 and its two-hundred day moving average is $424.42. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.08. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.80 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. Trane Technologies’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $3.37 earnings per share. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be paid a $0.94 dividend. 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%.

About Trane Technologies

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.