Allspring Global Investments Holdings LLC reduced its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,341 shares of the company's stock after selling 2,100 shares during the period. Allspring Global Investments Holdings LLC's holdings in Trane Technologies were worth $17,081,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Clarendon Private LLC lifted its holdings in shares of Trane Technologies by 40.7% during the second quarter. Clarendon Private LLC now owns 889 shares of the company's stock worth $389,000 after buying an additional 257 shares in the last quarter. CWM LLC increased its position in Trane Technologies by 18.0% during the second quarter. CWM LLC now owns 23,573 shares of the company's stock worth $10,311,000 after acquiring an additional 3,592 shares during the period. Ackerman Capital Advisors LLC acquired a new stake in Trane Technologies in the 2nd quarter worth about $222,000. Vanguard Personalized Indexing Management LLC boosted its holdings in Trane Technologies by 17.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 39,111 shares of the company's stock valued at $17,108,000 after purchasing an additional 5,743 shares during the period. Finally, Concurrent Investment Advisors LLC grew its position in shares of Trane Technologies by 14.6% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 12,410 shares of the company's stock worth $5,428,000 after purchasing an additional 1,578 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.
Trane Technologies Price Performance
TT stock opened at $416.31 on Friday. The stock has a market cap of $92.63 billion, a price-to-earnings ratio of 33.01, a P/E/G ratio of 2.59 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The company has a 50 day simple moving average of $417.59 and a 200 day simple moving average of $411.32. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18.
Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping analysts' consensus estimates 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 company's revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.
Trane Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies's dividend payout ratio is presently 29.82%.
Insider Activity at Trane Technologies
In other news, CEO David S. Regnery sold 22,497 shares of the business's stock in a transaction dated 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 directly owned 123,713 shares in the company, valued at approximately $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company's stock.
Analyst Upgrades and Downgrades
TT has been the subject of a number of analyst reports. Morgan Stanley lifted their price target 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. Barclays cut their target price on Trane Technologies from $495.00 to $485.00 and set an "overweight" rating for the company in a research report on Tuesday, September 16th. Citigroup decreased their price target on Trane Technologies from $499.00 to $494.00 and set a "buy" rating on the stock in a research report on Wednesday, September 17th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Finally, Hsbc Global Res downgraded shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Six investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $464.29.
Check Out Our Latest Stock Report on Trane Technologies
Trane Technologies Profile
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Free Report)
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.
Further Reading
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