Public Sector Pension Investment Board Purchases 9,783 Shares of Trane Technologies plc $TT

Public Sector Pension Investment Board grew its position in shares of Trane Technologies plc (NYSE:TT) by 17.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 67,245 shares of the company’s stock after acquiring an additional 9,783 shares during the quarter. Public Sector Pension Investment Board’s holdings in Trane Technologies were worth $29,414,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Trane Technologies by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 19,792,410 shares of the company’s stock worth $8,657,398,000 after buying an additional 335,634 shares during the last quarter. State Street Corp grew its position in Trane Technologies by 0.3% in the second quarter. State Street Corp now owns 10,077,267 shares of the company’s stock worth $4,407,904,000 after acquiring an additional 31,826 shares in the last quarter. Geode Capital Management LLC increased its stake in Trane Technologies by 1.1% during the second quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock worth $2,164,764,000 after acquiring an additional 56,293 shares during the last quarter. Ameriprise Financial Inc. raised its position in Trane Technologies by 7.2% during the first quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock valued at $1,208,044,000 after purchasing an additional 241,910 shares during the period. Finally, Norges Bank bought a new stake in shares of Trane Technologies in the 2nd quarter valued at approximately $1,356,065,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 3.1%

Shares of TT opened at $391.07 on Friday. The firm has a market capitalization of $86.72 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 2.25 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.20 and a quick ratio of 0.84. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The company has a 50-day moving average of $418.54 and a 200 day moving average of $424.25.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.08. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.80 billion. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio is presently 28.92%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TT. Royal Bank Of Canada increased their price target on Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. Citigroup boosted their price objective on shares of Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. raised their target price 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. Bank of America upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $490.00 to $550.00 in a report on Thursday, November 13th. Finally, Barclays raised their price objective on shares of Trane Technologies from $485.00 to $495.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $470.07.

Insider Activity at Trane Technologies

In related news, 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 completion of the sale, the chief accounting officer directly owned 7,148 shares in the company, valued at $3,145,120. The trade was a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

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.