PNC Financial Services Group Inc. Sells 662 Shares of Trane Technologies plc $TT

PNC Financial Services Group Inc. lowered its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 293,842 shares of the company’s stock after selling 662 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.13% of Trane Technologies worth $128,529,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Ethic Inc. raised its position in shares of Trane Technologies by 6.6% during the 2nd quarter. Ethic Inc. now owns 26,836 shares of the company’s stock valued at $11,601,000 after buying an additional 1,672 shares in the last quarter. Triton Financial Group Inc bought a new position in Trane Technologies during the second quarter valued at $1,273,000. OMNI 360 Wealth Inc. bought a new stake in shares of Trane Technologies in the 2nd quarter worth about $345,000. Jones Financial Companies Lllp boosted its stake in shares of Trane Technologies by 350.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company’s stock worth $7,140,000 after purchasing an additional 16,485 shares during the period. Finally, BROOKFIELD Corp ON grew its holdings in Trane Technologies by 11.0% during the 1st quarter. BROOKFIELD Corp ON now owns 8,227 shares of the company’s stock valued at $2,772,000 after purchasing an additional 812 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. Royal Bank Of Canada increased their target price on Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a research note on Friday, October 31st. Northcoast Research lowered shares of Trane Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Finally, Citigroup lifted their price target on shares of Trane Technologies from $494.00 to $513.00 and gave the company 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 given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $472.07.

Insider Activity at Trane Technologies

In other Trane Technologies 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 transaction, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total transaction of $264,000.00. Following the sale, the chief accounting officer owned 7,148 shares of the company’s stock, 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 currently owned by insiders.

Trane Technologies Trading Up 0.1%

NYSE:TT opened at $422.11 on Thursday. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The firm has a 50 day moving average of $419.67 and a 200 day moving average of $424.40. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $93.60 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 2.66 and a beta of 1.16.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share 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 the consensus estimate of $5.80 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.37 EPS. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, sell-side 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 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%.

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.