Carnegie Investment Counsel Sells 1,300 Shares of Trane Technologies plc $TT

Carnegie Investment Counsel lessened its holdings in Trane Technologies plc (NYSE:TT) by 46.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,485 shares of the company’s stock after selling 1,300 shares during the quarter. Carnegie Investment Counsel’s holdings in Trane Technologies were worth $650,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of TT. NorthRock Partners LLC grew its position in shares of Trane Technologies by 1.2% during the 2nd quarter. NorthRock Partners LLC now owns 2,052 shares of the company’s stock worth $898,000 after buying an additional 24 shares in the last quarter. Csenge Advisory Group grew its position in shares of Trane Technologies by 0.6% during 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. grew its position in shares of Trane Technologies by 0.7% during the 2nd quarter. Confluence Wealth Services Inc. now owns 3,609 shares of the company’s stock worth $1,579,000 after buying an additional 25 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its position in shares of Trane Technologies by 23.4% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 137 shares of the company’s stock worth $46,000 after buying an additional 26 shares in the last quarter. Finally, Fiera Capital Corp grew its position in shares of Trane Technologies by 1.4% during the 1st quarter. Fiera Capital Corp now owns 1,930 shares of the company’s stock worth $650,000 after buying an additional 27 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 2.4%

Trane Technologies stock opened at $425.81 on Monday. The stock has a 50-day moving average of $416.36 and a two-hundred day moving average of $415.72. 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 plc has a one year low of $298.15 and a one year high of $476.18. The stock has a market cap of $94.75 billion, a PE ratio of 33.77, a price-to-earnings-growth ratio of 2.65 and a beta of 1.12.

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

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be issued a $0.94 dividend. 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 0.9%. Trane Technologies’s dividend payout ratio is currently 29.82%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TT shares. JPMorgan Chase & Co. increased their price target on Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. UBS Group increased their price target on Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Royal Bank Of Canada upped their price objective on Trane Technologies from $463.00 to $467.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 31st. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and upped their price objective for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Finally, Barclays decreased their price objective on Trane Technologies from $495.00 to $485.00 and set an “overweight” rating for the company in a research note on Tuesday, September 16th. Six 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $464.29.

Insider Buying and Selling 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 value of $9,223,770.00. Following the transaction, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.