Fisher Asset Management LLC Sells 5,115 Shares of Trane Technologies plc $TT

Fisher Asset Management LLC decreased its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,998,440 shares of the company’s stock after selling 5,115 shares during the period. Fisher Asset Management LLC owned approximately 0.90% of Trane Technologies worth $874,138,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after acquiring an additional 2,323 shares in the last quarter. Arkadios Wealth Advisors raised its stake in shares of Trane Technologies by 152.3% in the first quarter. Arkadios Wealth Advisors now owns 2,261 shares of the company’s stock worth $762,000 after purchasing an additional 1,365 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of Trane Technologies by 9.7% in the first quarter. Harbour Investments Inc. now owns 1,129 shares of the company’s stock valued at $380,000 after purchasing an additional 100 shares in the last quarter. TIAA Trust National Association boosted its position in shares of Trane Technologies by 0.9% during the first quarter. TIAA Trust National Association now owns 5,304 shares of the company’s stock valued at $1,787,000 after buying an additional 47 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Trane Technologies by 1.1% during the first quarter. PNC Financial Services Group Inc. now owns 294,504 shares of the company’s stock worth $99,224,000 after buying an additional 3,290 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of the 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 transaction, the chief executive officer directly owned 123,713 shares in the company, valued at approximately $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $264,000.00. Following the completion of the sale, 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 SEC filing for this sale provides additional information. Company insiders own 0.14% of the company’s stock.

Trane Technologies Trading Up 0.5%

Shares of TT stock opened at $421.75 on Monday. The company has a 50 day moving average of $421.00 and a 200-day moving average of $425.96. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The firm has a market cap of $93.52 billion, a P/E ratio of 33.45, a PEG ratio of 2.66 and a beta of 1.16. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.08. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period in the previous year, the company posted $3.37 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The company 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. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio is currently 28.92%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TT. Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $490.00 to $550.00 in a report on Thursday, November 13th. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. UBS Group lifted their target price on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Finally, Wells Fargo & Company boosted their target price on Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research note on Monday, October 6th. Seven 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $470.07.

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.