Cornerstone Wealth Group LLC Takes $263,000 Position in Trane Technologies plc $TT

Key Points

• Cornerstone Wealth Group LLC has acquired a new stake in Trane Technologies plc, purchasing 602 shares valued at approximately $263,000 during the second quarter.
• Insider activity shows CEO David S. Regnery sold 22,497 shares for $9.22 million, leading to a 15.39% decrease in his ownership.
• Trane Technologies has a market capitalization of $94.23 billion, with an average analyst rating of "Hold" and a projected EPS of 12.83 for the current year.

Cornerstone Wealth Group LLC bought a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 602 shares of the company's stock, valued at approximately $263,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TT. Nuveen LLC purchased a new position in shares of Trane Technologies during the 1st quarter valued at approximately $877,468,000. Wellington Management Group LLP boosted its stake in shares of Trane Technologies by 245.1% during the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company's stock valued at $722,493,000 after buying an additional 1,522,933 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock valued at $5,297,235,000 after buying an additional 1,408,421 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Trane Technologies by 95.1% during the 1st quarter. AQR Capital Management LLC now owns 885,039 shares of the company's stock valued at $291,727,000 after buying an additional 431,495 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Trane Technologies by 27.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company's stock valued at $645,343,000 after buying an additional 410,734 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total value of $9,223,770.00. Following the completion of the transaction, the chief executive officer owned 123,713 shares of the company's stock, valued at approximately $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

TT has been the topic of several research reports. Barclays dropped their price target on Trane Technologies from $495.00 to $485.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 16th. Morgan Stanley upped their price target on Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Citigroup dropped 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. Northcoast Research lowered Trane Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company upped their price target on Trane Technologies from $410.00 to $415.00 and gave the company an "underweight" rating in a research report on Monday, October 6th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $457.73.

Trane Technologies Price Performance

Shares of NYSE TT opened at $423.51 on Wednesday. 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's fifty day moving average price is $418.18 and its two-hundred day moving average price is $410.17. The firm has a market capitalization of $94.23 billion, a PE ratio of 33.59, a P/E/G ratio of 2.60 and a beta of 1.12.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period last year, the company earned $3.30 earnings per share. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 annualized dividend and a yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is currently 29.82%.

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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