Concurrent Investment Advisors LLC Purchases 1,578 Shares of Trane Technologies plc $TT

Concurrent Investment Advisors LLC increased its position in Trane Technologies plc (NYSE:TT) by 14.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 12,410 shares of the company’s stock after buying an additional 1,578 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Trane Technologies were worth $5,428,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Csenge Advisory Group boosted its holdings in Trane Technologies by 0.6% in 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 during the period. Confluence Wealth Services Inc. boosted its holdings in Trane Technologies by 0.7% in 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 during the period. CBIZ Investment Advisory Services LLC boosted its holdings in Trane Technologies by 23.4% in 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 during the period. Fiera Capital Corp lifted its stake in Trane Technologies by 1.4% in the 1st quarter. Fiera Capital Corp now owns 1,930 shares of the company’s stock worth $650,000 after purchasing an additional 27 shares in the last quarter. Finally, Old Port Advisors lifted its stake in Trane Technologies by 3.7% in the 2nd quarter. Old Port Advisors now owns 754 shares of the company’s stock worth $330,000 after purchasing an additional 27 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 1.1%

Shares of NYSE TT opened at $414.09 on Monday. The firm’s 50-day moving average price is $418.60 and its 200-day moving average price is $409.47. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $92.14 billion, a price-to-earnings ratio of 32.84, a P/E/G ratio of 2.57 and a beta of 1.12. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.09. The firm had revenue of $5.75 billion for 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 business’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is presently 29.82%.

Wall Street Analysts Forecast Growth

Several analysts have commented on TT shares. Barclays decreased 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. Royal Bank Of Canada boosted their price target on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 31st. Morgan Stanley boosted their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Robert W. Baird boosted their price target on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $457.73.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the completion of the sale, the chief executive officer owned 123,713 shares of the company’s stock, valued at $50,722,330. This trade 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 available at this hyperlink. 0.14% of the stock is currently owned by insiders.

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.