Prudential PLC Sells 10,223 Shares of Trane Technologies plc $TT

Prudential PLC trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 28.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 26,190 shares of the company’s stock after selling 10,223 shares during the quarter. Prudential PLC’s holdings in Trane Technologies were worth $11,456,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TT. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Trane Technologies during the second quarter valued at $1,176,000. Telligent Fund LP raised its position in Trane Technologies by 25.0% in the 2nd quarter. Telligent Fund LP now owns 5,000 shares of the company’s stock worth $2,187,000 after buying an additional 1,000 shares during the last quarter. Howe & Rusling Inc. lifted its stake in Trane Technologies by 9.6% during the 2nd quarter. Howe & Rusling Inc. now owns 1,290 shares of the company’s stock valued at $564,000 after acquiring an additional 113 shares during the period. GDS Wealth Management boosted its holdings in shares of Trane Technologies by 1.2% during the 2nd quarter. GDS Wealth Management now owns 55,020 shares of the company’s stock valued at $24,066,000 after acquiring an additional 638 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its stake in shares of Trane Technologies by 18.2% in the second quarter. Ensign Peak Advisors Inc now owns 42,384 shares of the company’s stock worth $18,539,000 after acquiring an additional 6,540 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TT shares. Morgan Stanley raised their target price on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Northcoast Research cut Trane Technologies from a “buy” rating to a “neutral” rating in a report on Friday, August 1st. Wells Fargo & Company lifted their price objective on Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a report on Monday, October 6th. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Finally, HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and boosted their price target for the company from $415.00 to $460.00 in a research note on Thursday, July 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’s stock. According to data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average price target of $472.07.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 22,497 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer directly owned 123,713 shares in the company, valued at $50,722,330. This trade represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total transaction of $264,000.00. Following the transaction, the chief accounting officer owned 7,148 shares in the company, valued at approximately $3,145,120. This trade represents a 7.74% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Price Performance

NYSE TT opened at $399.90 on Friday. The business’s fifty day moving average is $419.21 and its 200 day moving average is $425.48. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The company has a market capitalization of $88.67 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16.

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

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, December 5th. Trane Technologies’s dividend payout ratio is presently 28.92%.

Trane Technologies Company Profile

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.