Whittier Trust Co. Lowers Position in Trane Technologies plc $TT

Whittier Trust Co. trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 5.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,318 shares of the company’s stock after selling 189 shares during the quarter. Whittier Trust Co.’s holdings in Trane Technologies were worth $1,451,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TT. Nuveen LLC purchased a new stake in shares of Trane Technologies during the first quarter valued at about $877,468,000. Wellington Management Group LLP lifted its position in shares of Trane Technologies by 245.1% during the first quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock valued at $722,493,000 after buying an additional 1,522,933 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Trane Technologies by 9.8% during the first 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 last quarter. Nordea Investment Management AB raised its position in shares of Trane Technologies by 89.1% in the 2nd quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock valued at $1,066,845,000 after purchasing an additional 1,157,405 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Trane Technologies by 95.1% in the 1st quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock valued at $291,727,000 after purchasing an additional 431,495 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Morgan Stanley increased their price objective on shares of Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Royal Bank Of Canada increased their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the company a “sector perform” rating in a research report on Thursday, July 31st. Citigroup decreased their price objective on shares of Trane Technologies from $499.00 to $494.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and increased their price objective for the company from $415.00 to $460.00 in a research report on Thursday, July 31st. Finally, Northcoast Research lowered shares of Trane Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $464.29.

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of the firm’s stock in a transaction that occurred 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 owned 123,713 shares of the company’s stock, 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 through this link. 0.14% of the stock is owned by insiders.

Trane Technologies Stock Performance

TT opened at $408.20 on Thursday. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. 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 firm has a market capitalization of $90.83 billion, a PE ratio of 32.37, a P/E/G ratio of 2.64 and a beta of 1.12. The firm has a 50 day moving average of $416.57 and a two-hundred day moving average of $413.06.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same period last year, the firm posted $3.30 EPS. Trane Technologies’s revenue for the quarter 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, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

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 paid a dividend of $0.94 per share. 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 (DPR) is presently 29.82%.

Trane Technologies 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.