Moran Wealth Management LLC Lowers Stock Holdings in Trane Technologies plc $TT

Key Points

• Moran Wealth Management LLC reduced its stake in Trane Technologies by 27.2%, holding 133,392 shares after selling 49,822 shares last quarter, which now represents 1.8% of its total portfolio.
• Trane Technologies has received various ratings from analysts, with a consensus rating of "Hold" and a price target averaging $457.73.
• The company announced a quarterly dividend of $0.94 per share, with an annual yield of 0.9%, payable on December 31st to investors of record on December 5th.

Moran Wealth Management LLC trimmed its position in Trane Technologies plc (NYSE:TT - Free Report) by 27.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,392 shares of the company's stock after selling 49,822 shares during the quarter. Trane Technologies accounts for 1.8% of Moran Wealth Management LLC's holdings, making the stock its 3rd biggest holding. Moran Wealth Management LLC owned 0.06% of Trane Technologies worth $58,347,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TT. Ameriflex Group Inc. bought a new position in shares of Trane Technologies during the second quarter worth approximately $28,000. Saudi Central Bank acquired a new stake in Trane Technologies during the first quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new stake in shares of Trane Technologies during the 1st quarter valued at $31,000. Bogart Wealth LLC lifted its position in shares of Trane Technologies by 97.9% during the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after acquiring an additional 46 shares during the period. Finally, Tradewinds Capital Management LLC lifted its position in shares of Trane Technologies by 46.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after acquiring an additional 30 shares during the period. Institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of analyst reports. 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 research note on Thursday, July 31st. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. UBS Group increased their price target on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Wells Fargo & Company increased their price target on shares of Trane Technologies from $410.00 to $415.00 and gave the stock an "underweight" rating in a research report on Monday, October 6th. Finally, Robert W. Baird upped their target price on Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Trane Technologies has an average rating of "Hold" and a consensus price target of $457.73.

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction dated 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 directly owned 123,713 shares of the company's stock, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company's stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $418.14 on Tuesday. The company has a market cap of $93.04 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 2.57 and a beta of 1.12. 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 simple moving average of $418.28 and a 200 day simple moving average of $410.08. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last issued 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 business had revenue of $5.75 billion during the quarter, compared to the consensus estimate 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 was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Research analysts predict 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. Investors of record on Friday, December 5th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, December 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. Trane Technologies's payout ratio 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.

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