Bank of America Corp DE Has $687.58 Million Position in Trane Technologies plc $TT

Key Points

• Bank of America reduced its Trane Technologies stake by 12.3% in the first quarter, selling 231,773 shares. It still held 1.65 million shares worth approximately $687.6 million, while institutional investors owned 82.97% of the company.
• Trane Technologies beat second-quarter expectations: adjusted EPS was $4.31 versus the $4.27 consensus, and revenue rose 10.6% year over year to $6.35 billion. Bookings jumped 39% to $7.82 billion, supported by a record backlog.
• Management raised its 2026 outlook to adjusted EPS of $15.20–$15.30 and revenue of approximately $23.8 billion. The company also declared a quarterly dividend of $1.05 per share, equivalent to a 0.9% annualized yield.

Bank of America Corp DE trimmed its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,649,910 shares of the company's stock after selling 231,773 shares during the quarter. Bank of America Corp DE owned approximately 0.75% of Trane Technologies worth $687,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after acquiring an additional 2,323 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Trane Technologies by 22.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company's stock worth $728,000 after acquiring an additional 305 shares during the period. Schnieders Capital Management LLC. bought a new stake in Trane Technologies in the second quarter valued at about $227,000. Nebula Research & Development LLC grew its stake in shares of Trane Technologies by 178.0% in the 2nd quarter. Nebula Research & Development LLC now owns 2,371 shares of the company's stock valued at $1,037,000 after purchasing an additional 1,518 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in Trane Technologies by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company's stock worth $45,552,000 after acquiring an additional 497 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Trane Technologies Trading Up 3.5%

TT opened at $455.78 on Friday. The firm has a 50 day simple moving average of $470.95 and a 200 day simple moving average of $452.60. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The company has a market cap of $100.75 billion, a price-to-earnings ratio of 34.53, a price-to-earnings-growth ratio of 1.98 and a beta of 1.19. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 0.77.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $4.31 EPS for the quarter, beating the consensus estimate of $4.27 by $0.04. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The company had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.20 billion. During the same quarter in the previous year, the company posted $3.88 EPS. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. On average, sell-side analysts anticipate that Trane Technologies plc will post 15.25 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies's dividend payout ratio (DPR) is currently 32.48%.

Key Trane Technologies News

Here are the key news stories impacting Trane Technologies this week:

• Positive Sentiment: Second-quarter results exceeded expectations. Adjusted EPS was $4.31, above the $4.27 consensus and up from $3.88 a year earlier. Revenue rose 10.6% year over year to $6.35 billion, surpassing the $6.20 billion estimate. TT's Q2 Earnings and Revenues Beat Estimates, Increase Year Over Year
• Positive Sentiment: Bookings surged 39% to $7.82 billion on a reported basis, or 37% organically, while the company cited a record backlog. These trends strengthen visibility into future revenue and suggest sustained demand for Trane’s climate-control products and services. Trane Technologies Reports Strong Second Quarter Results; Raises Full-Year Revenue and EPS Guidance
• Positive Sentiment: Management raised its 2026 forecast. Full-year adjusted EPS guidance is now $15.20–$15.30, above the roughly $14.90 analyst consensus, while revenue guidance of approximately $23.8 billion exceeds the $23.4 billion consensus. Trane Technologies Q2 Earnings and Revenues Beat Estimates
• Neutral Sentiment: Analyst actions were mixed but still imply upside. Citigroup lowered its target from $570 to $566 while maintaining a Buy rating. RBC cut its target from $501 to $496 and assigned a Sector Perform rating. The reductions may temper enthusiasm, but both targets remain above the cited share price. Analyst Price Target Updates

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TT shares. BNP Paribas Exane started coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Wall Street Zen raised Trane Technologies from a "hold" rating to a "buy" rating in a report on Saturday. Barclays lifted their target price on Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Finally, Citigroup dropped their target price on Trane Technologies from $570.00 to $566.00 and set a "buy" rating for the company in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of "Moderate Buy" and an average target price of $520.07.

Trane Technologies Company Profile

Trane Technologies NYSE: TT is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.

Want to see what other hedge funds are holding TT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trane Technologies plc (NYSE:TT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.