Trane Technologies plc $TT Stake Cut by Progressive Investment Management Corp

Progressive Investment Management Corp cut its position in shares of Trane Technologies plc (NYSE:TT) by 0.9% in the second quarter, Holdings Channel reports. The firm owned 13,716 shares of the company’s stock after selling 126 shares during the period. Trane Technologies accounts for 1.5% of Progressive Investment Management Corp’s investment portfolio, making the stock its 21st largest holding. Progressive Investment Management Corp’s holdings in Trane Technologies were worth $6,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TT. Brighton Jones LLC raised its stake in shares of Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after purchasing an additional 2,323 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Trane Technologies by 5.5% during the 1st quarter. GAMMA Investing LLC now owns 5,983 shares of the company’s stock worth $2,016,000 after purchasing an additional 314 shares in the last quarter. Ritholtz Wealth Management raised its stake in shares of Trane Technologies by 15.1% during the 1st quarter. Ritholtz Wealth Management now owns 1,493 shares of the company’s stock worth $503,000 after purchasing an additional 196 shares in the last quarter. CWA Asset Management Group LLC raised its stake in shares of Trane Technologies by 19.2% during the 1st quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company’s stock worth $382,000 after purchasing an additional 183 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its stake in shares of Trane Technologies by 22.5% during the 1st quarter. Johnson Investment Counsel Inc. now owns 1,577 shares of the company’s stock worth $531,000 after purchasing an additional 290 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

TT opened at $416.31 on Friday. The firm has a market capitalization of $92.63 billion, a P/E ratio of 33.01, a price-to-earnings-growth ratio of 2.59 and a beta of 1.12. The stock’s 50 day moving average price is $417.59 and its two-hundred day moving average price is $411.32. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18.

Trane Technologies (NYSE:TT) last released 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 firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current 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 dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio (DPR) is presently 29.82%.

Analyst Ratings Changes

A number of research firms have recently weighed in on TT. Robert W. Baird raised their price target on Trane Technologies from $396.00 to $450.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. The Goldman Sachs Group raised their price objective on Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research note on Wednesday. Barclays cut their price objective on Trane Technologies from $495.00 to $485.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 16th. Finally, Morgan Stanley raised their price objective on Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $464.29.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the sale, the chief executive officer owned 123,713 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. 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.