Clifford Swan Investment Counsel LLC Cuts Stock Position in Trane Technologies plc $TT

Clifford Swan Investment Counsel LLC reduced its position in Trane Technologies plc (NYSE:TT) by 0.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 11,224 shares of the company’s stock after selling 74 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Trane Technologies were worth $4,909,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Trane Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company’s stock valued at $6,555,377,000 after purchasing an additional 221,206 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Trane Technologies by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after buying an additional 1,408,421 shares during the period. Ameriprise Financial Inc. boosted its position in Trane Technologies by 7.2% in the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock valued at $1,208,044,000 after buying an additional 241,910 shares during the period. Nuveen LLC acquired a new position in shares of Trane Technologies in the first quarter worth $877,468,000. Finally, Northern Trust Corp increased its position in shares of Trane Technologies by 0.7% during the first quarter. Northern Trust Corp now owns 2,584,819 shares of the company’s stock worth $870,877,000 after acquiring an additional 17,292 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT opened at $408.20 on Thursday. The firm’s fifty day simple moving average is $416.57 and its 200-day simple moving average is $413.06. 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 cap of $90.83 billion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 2.64 and a beta of 1.12. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $0.09. The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal 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 $0.94 dividend. The ex-dividend date 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 (DPR) is currently 29.82%.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction dated 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 owned 123,713 shares in the company, valued at approximately $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TT shares. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and increased their price target for the company from $415.00 to $460.00 in a research report on Thursday, July 31st. Barclays dropped their price target on shares of Trane Technologies from $495.00 to $485.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 16th. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research report on Monday, October 6th. The Goldman Sachs Group increased their target price on shares of Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Finally, UBS Group upped their price objective on shares of Trane Technologies from $500.00 to $544.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $464.29.

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.