Asset Management One Co. Ltd. Sells 3,335 Shares of Trane Technologies plc $TT

Key Points

• Asset Management One Co. Ltd. reduced its stake in Trane Technologies plc by 3.4%, totaling 96,024 shares valued at approximately $42 million after selling 3,335 shares in the second quarter.
• Trane Technologies posted an Earnings Per Share (EPS) of $3.88, exceeding analyst expectations and marking a 7.6% increase in quarterly revenue compared to last year.
• The company announced a quarterly dividend of $0.94, which will be paid on December 31st, representing a 0.9% dividend yield with a payout ratio of 29.82%.

Asset Management One Co. Ltd. decreased its stake in Trane Technologies plc (NYSE:TT - Free Report) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,024 shares of the company's stock after selling 3,335 shares during the period. Asset Management One Co. Ltd.'s holdings in Trane Technologies were worth $42,002,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Ethic Inc. increased its holdings in shares of Trane Technologies by 6.6% in the 2nd quarter. Ethic Inc. now owns 26,836 shares of the company's stock worth $11,601,000 after buying an additional 1,672 shares during the last quarter. OMNI 360 Wealth Inc. bought a new position in shares of Trane Technologies in the 2nd quarter worth $345,000. Triton Financial Group Inc purchased a new stake in shares of Trane Technologies in the 2nd quarter valued at $1,273,000. Jones Financial Companies Lllp boosted its stake in shares of Trane Technologies by 350.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company's stock valued at $7,140,000 after purchasing an additional 16,485 shares in the last quarter. Finally, BROOKFIELD Corp ON boosted its stake in shares of Trane Technologies by 11.0% in the 1st quarter. BROOKFIELD Corp ON now owns 8,227 shares of the company's stock valued at $2,772,000 after purchasing an additional 812 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Trane Technologies Trading Up 2.4%

Shares of TT opened at $425.81 on Friday. The stock has a market capitalization of $94.75 billion, a P/E ratio of 33.77, a PEG ratio of 2.59 and a beta of 1.12. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $416.36 and a two-hundred day simple moving average of $414.52. Trane Technologies plc has a twelve month low of $298.15 and a twelve month 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 EPS for the quarter, topping the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.77 billion. During the same period last year, the company posted $3.30 EPS. The company's quarterly 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 year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be given a $0.94 dividend. 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 currently 29.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TT shares. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $410.00 to $415.00 and gave the company an "underweight" rating in a research note on Monday, October 6th. The Goldman Sachs Group upped their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Barclays cut their price objective on shares of Trane Technologies from $495.00 to $485.00 and set an "overweight" rating for the company in a research note on Tuesday, September 16th. Hsbc Global Res cut shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $407.00 to $434.00 and gave the company a "neutral" rating in a research report on Wednesday, October 15th. Six investment 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target 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 dated Tuesday, September 2nd. The shares were 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 of the company's stock, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.14% of the company's stock.

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.

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