Fifth Third Wealth Advisors LLC Buys 718 Shares of Trane Technologies plc $TT

Key Points

• Fifth Third Wealth Advisors LLC raised its stake in Trane Technologies plc by 8.9%, purchasing an additional 718 shares, bringing its total holdings to 8,786 shares valued at approximately $3.84 million.
• CEO David S. Regnery sold 22,497 shares for over $9.2 million, reducing his ownership by 15.39% to 123,713 shares.
• Trane Technologies declared a quarterly dividend of $0.94 per share, with the ex-dividend date set for December 5th, representing an annual yield of 0.9%.

Fifth Third Wealth Advisors LLC increased its stake in Trane Technologies plc (NYSE:TT - Free Report) by 8.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,786 shares of the company's stock after purchasing an additional 718 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Trane Technologies were worth $3,843,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after buying an additional 2,323 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Trane Technologies during the 1st quarter worth approximately $39,000. Farther Finance Advisors LLC raised its holdings in shares of Trane Technologies by 22.9% in the first quarter. Farther Finance Advisors LLC now owns 3,179 shares of the company's stock valued at $1,086,000 after purchasing an additional 592 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Trane Technologies in the first quarter worth $1,135,000. Finally, GAMMA Investing LLC boosted its holdings in Trane Technologies by 5.5% during the first quarter. GAMMA Investing LLC now owns 5,983 shares of the company's stock worth $2,016,000 after purchasing an additional 314 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer owned 123,713 shares of the company's stock, valued at $50,722,330. This trade represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TT has been the topic of several recent research reports. Barclays lowered their price target on shares of Trane Technologies from $495.00 to $485.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 16th. Hsbc Global Res downgraded Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. HSBC cut Trane Technologies from a "buy" rating to a "hold" rating and increased their price target for the company from $415.00 to $460.00 in a research report on Thursday, July 31st. The Goldman Sachs Group raised their price target on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Finally, Citigroup dropped their price objective on Trane Technologies from $499.00 to $494.00 and set a "buy" rating on the stock in a research note on Wednesday, September 17th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Trane Technologies has a consensus rating of "Hold" and an average target price of $457.73.

Trane Technologies Trading Down 1.1%

NYSE TT opened at $414.09 on Friday. The company has a market cap of $92.14 billion, a PE ratio of 32.84, a PEG ratio of 2.60 and a beta of 1.12. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The stock has a 50 day moving average of $418.60 and a 200-day moving average of $408.64.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.79 by $0.09. The company had revenue of $5.75 billion during 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 revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be issued a dividend of $0.94 per share. 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%.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.