Adams Diversified Equity Fund Inc. Sells 22,300 Shares of Trane Technologies plc $TT

Key Points

• Adams Diversified Equity Fund Inc. has reduced its stake in Trane Technologies plc by 41.4%, selling 22,300 shares, and now holds 31,600 shares valued at approximately $13.8 million.
• CEO David S. Regnery sold 22,497 shares of Trane Technologies, representing a 15.39% decrease in his ownership, valued at over $9.2 million.
• Analysts maintain a consensus rating of “Hold” for the stock, with target prices ranging from $396.00 to $467.00 following recent rating adjustments from various brokerages.

Adams Diversified Equity Fund Inc. lowered its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 41.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,600 shares of the company's stock after selling 22,300 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in Trane Technologies were worth $13,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TT. NorthRock Partners LLC raised its holdings in shares of Trane Technologies by 1.2% during the 2nd quarter. NorthRock Partners LLC now owns 2,052 shares of the company's stock worth $898,000 after acquiring an additional 24 shares in the last quarter. Csenge Advisory Group raised its holdings in shares of Trane Technologies by 0.6% during the 1st quarter. Csenge Advisory Group now owns 3,944 shares of the company's stock worth $1,314,000 after acquiring an additional 25 shares in the last quarter. Confluence Wealth Services Inc. raised its holdings in shares of Trane Technologies by 0.7% during the 2nd quarter. Confluence Wealth Services Inc. now owns 3,609 shares of the company's stock worth $1,579,000 after acquiring an additional 25 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its holdings in shares of Trane Technologies by 23.4% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 137 shares of the company's stock worth $46,000 after acquiring an additional 26 shares in the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of Trane Technologies by 1.4% during the 1st quarter. Fiera Capital Corp now owns 1,930 shares of the company's stock worth $650,000 after acquiring an additional 27 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was 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 directly owned 123,713 shares in the company, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TT. Northcoast Research cut Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. Weiss Ratings restated a "buy (b)" rating on shares of Trane Technologies in a report on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective 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. Robert W. Baird increased their target price on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and increased their target price for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Trane Technologies presently has a consensus rating of "Hold" and a consensus target price of $464.29.

Trane Technologies Trading Up 1.5%

Trane Technologies stock opened at $424.83 on Wednesday. The stock has a 50-day moving average of $417.11 and a two-hundred day moving average of $413.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. The stock has a market cap of $94.53 billion, a PE ratio of 33.69, a price-to-earnings-growth ratio of 2.60 and a beta of 1.12.

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

Trane Technologies Announces Dividend

The firm also recently declared 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 is Friday, December 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is 29.82%.

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.

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