2,012 Shares in Trane Technologies plc $TT Acquired by Belmont Capital LLC

Key Points

• Belmont Capital LLC has made a new investment of approximately $678,000 in Trane Technologies plc, purchasing 2,012 shares in the first quarter.
• Trane Technologies' stock currently has a consensus rating of "Hold" from analysts, with an average price target of $458.60.
• The company recently announced a quarterly dividend of $0.94 per share, which translates to an annual yield of 0.9%.

Belmont Capital LLC bought a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,012 shares of the company's stock, valued at approximately $678,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in Trane Technologies by 95.1% during the first quarter. AQR Capital Management LLC now owns 885,039 shares of the company's stock worth $291,727,000 after acquiring an additional 431,495 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Trane Technologies by 15.6% during the first quarter. Advisors Asset Management Inc. now owns 5,177 shares of the company's stock worth $1,744,000 after acquiring an additional 698 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in Trane Technologies by 14.5% during the first quarter. EP Wealth Advisors LLC now owns 2,647 shares of the company's stock worth $892,000 after acquiring an additional 335 shares in the last quarter. PDT Partners LLC lifted its holdings in Trane Technologies by 240.0% during the first quarter. PDT Partners LLC now owns 8,500 shares of the company's stock worth $2,864,000 after acquiring an additional 6,000 shares in the last quarter. Finally, 1248 Management LLC bought a new position in Trane Technologies during the first quarter worth about $140,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TT has been the topic of several recent research reports. HSBC downgraded Trane Technologies from a "buy" rating to a "hold" rating and lifted their price target for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. UBS Group boosted their price target on Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Barclays boosted their price target on Trane Technologies from $480.00 to $495.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Finally, Hsbc Global Res lowered Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $458.60.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction that occurred on 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 owned 123,713 shares of the company's stock, valued at $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

Trane Technologies Price Performance

NYSE:TT traded up $0.73 during trading hours on Friday, reaching $413.88. 1,280,224 shares of the company were exchanged, compared to its average volume of 1,054,915. The company has a market capitalization of $92.09 billion, a P/E ratio of 32.82, a P/E/G ratio of 2.58 and a beta of 1.10. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. 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 business has a 50 day moving average of $434.03 and a 200 day moving average of $397.79.

Trane Technologies (NYSE:TT - Get Free Report) last issued 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. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

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.