Legacy Wealth Asset Management LLC purchased a new position in shares of 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 and Exchange Commission. The fund purchased 1,805 shares of the company's stock, valued at approximately $790,000.
Other institutional investors have also recently modified their holdings of the company. OMNI 360 Wealth Inc. acquired a new position in shares of Trane Technologies during the 2nd quarter worth approximately $345,000. Jones Financial Companies Lllp raised its holdings in Trane Technologies by 350.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company's stock valued at $7,140,000 after acquiring an additional 16,485 shares during the last quarter. BROOKFIELD Corp ON raised its holdings in Trane Technologies by 11.0% in the 1st quarter. BROOKFIELD Corp ON now owns 8,227 shares of the company's stock valued at $2,772,000 after acquiring an additional 812 shares during the last quarter. Nippon Life Global Investors Americas Inc. raised its holdings in Trane Technologies by 17.5% in the 1st quarter. Nippon Life Global Investors Americas Inc. now owns 3,090 shares of the company's stock valued at $1,041,000 after acquiring an additional 460 shares during the last quarter. Finally, Inspire Investing LLC raised its holdings in Trane Technologies by 20.8% in the 1st quarter. Inspire Investing LLC now owns 5,571 shares of the company's stock valued at $1,877,000 after acquiring an additional 960 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. 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. The Goldman Sachs Group boosted their price target on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Royal Bank Of Canada boosted their price target on Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Citigroup lowered their price objective on shares of Trane Technologies from $499.00 to $494.00 and set a "buy" rating for the company in a research note on Wednesday, September 17th. Finally, Northcoast Research cut shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $464.29.
Check Out Our Latest Report on Trane Technologies
Trane Technologies Stock Performance
NYSE:TT opened at $418.20 on Tuesday. 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 firm has a 50-day moving average of $417.39 and a two-hundred day moving average of $413.02. The stock has a market cap of $93.05 billion, a P/E ratio of 33.16, a PEG ratio of 2.59 and a beta of 1.12. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18.
Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. The company had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.30 EPS. 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 earnings per share for the current fiscal year.
Trane Technologies Dividend Announcement
The company also recently disclosed 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. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies's dividend payout ratio is presently 29.82%.
Insiders Place Their Bets
In other news, CEO David S. Regnery sold 22,497 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the sale, the chief executive officer owned 123,713 shares in the company, valued at approximately $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.
Trane Technologies Company Profile
(
Free Report)
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.
Further Reading
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.
Before you consider Trane Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Trane Technologies wasn't on the list.
While Trane Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
