Canandaigua National Bank & Trust Co. Makes New $4.72 Million Investment in Trane Technologies plc $TT

Key Points

• Canandaigua National Bank & Trust purchased 9,621 Trane Technologies shares worth approximately $4.72 million during the second quarter. Institutional investors collectively own 82.97% of the company.
• Analysts maintain a generally positive outlook, with Trane Technologies receiving a consensus “Moderate Buy” rating and an average price target of $520.07.
• Trane Technologies reported quarterly EPS of $4.31, ahead of the $4.27 estimate, while revenue rose 10.6% year over year to $6.35 billion. The company also declared a quarterly dividend of $1.05 per share, equating to a 0.9% annualized yield.

Canandaigua National Bank & Trust Co. purchased a new stake in Trane Technologies plc (NYSE:TT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,621 shares of the company's stock, valued at approximately $4,725,000.

A number of other institutional investors also recently modified their holdings of TT. Farther Finance Advisors LLC grew its holdings in Trane Technologies by 64.0% during the 4th quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company's stock valued at $2,911,000 after buying an additional 2,917 shares in the last quarter. ProCore Advisors LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth about $939,000. Dara Capital US Inc. purchased a new stake in shares of Trane Technologies in the fourth quarter worth about $966,000. Horizon Investments LLC boosted its position in shares of Trane Technologies by 115.4% in the fourth quarter. Horizon Investments LLC now owns 30,560 shares of the company's stock valued at $11,894,000 after acquiring an additional 16,370 shares during the period. Finally, LBP AM SA grew its stake in Trane Technologies by 153.0% during the fourth quarter. LBP AM SA now owns 54,112 shares of the company's stock valued at $21,060,000 after acquiring an additional 32,724 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TT has been the topic of a number of analyst reports. Barclays upped their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Royal Bank Of Canada reduced their price target on shares of Trane Technologies from $501.00 to $496.00 and set a "sector perform" rating for the company in a research report on Friday, July 31st. BNP Paribas Exane started coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 price target on the stock. KeyCorp increased their price objective on Trane Technologies from $525.00 to $555.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Finally, Evercore began coverage on Trane Technologies in a research note on Monday, April 13th. They set an "outperform" rating and a $535.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Trane Technologies has an average rating of "Moderate Buy" and a consensus price target of $520.07.

Trane Technologies Trading Up 2.6%

Shares of TT stock opened at $473.21 on Wednesday. The business has a 50-day moving average price of $471.39 and a two-hundred day moving average price of $454.20. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 0.45. The firm has a market cap of $104.12 billion, a P/E ratio of 35.85, a price-to-earnings-growth ratio of 2.07 and a beta of 1.19.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $4.31 EPS for the quarter, beating the consensus estimate of $4.27 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.20 billion. Trane Technologies had a return on equity of 35.72% and a net margin of 13.28%.The company's revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.88 EPS. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. Equities analysts anticipate that Trane Technologies plc will post 15.27 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies's dividend payout ratio (DPR) is presently 31.82%.

About Trane Technologies

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.

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