Phoenix Financial Ltd. Increases Stock Position in Trane Technologies plc $TT

Key Points

• Phoenix Financial Ltd. has increased its stake in Trane Technologies plc by 8.3%, owning 15,678 shares worth approximately $6.86 million after acquiring an additional 1,201 shares in the second quarter.
• Most analysts rate Trane Technologies as a "Hold," with a current average target price of $464.29, while various research firms have set price targets ranging from $494 to $544.
• Trane Technologies announced a quarterly dividend of $0.94 per share, with a payout ratio of 29.82%, to be paid on December 31, highlighting its ongoing commitment to returning value to shareholders.

Phoenix Financial Ltd. increased its position in Trane Technologies plc (NYSE:TT - Free Report) by 8.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,678 shares of the company's stock after acquiring an additional 1,201 shares during the period. Phoenix Financial Ltd.'s holdings in Trane Technologies were worth $6,858,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. NorthRock Partners LLC raised its holdings in Trane Technologies by 1.2% in the 2nd quarter. NorthRock Partners LLC now owns 2,052 shares of the company's stock worth $898,000 after acquiring an additional 24 shares during the last quarter. Csenge Advisory Group raised its holdings in Trane Technologies by 0.6% in the 1st quarter. Csenge Advisory Group now owns 3,944 shares of the company's stock worth $1,314,000 after acquiring an additional 25 shares during the last quarter. Confluence Wealth Services Inc. raised its holdings in Trane Technologies by 0.7% in the 2nd quarter. Confluence Wealth Services Inc. now owns 3,609 shares of the company's stock worth $1,579,000 after acquiring an additional 25 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its holdings in Trane Technologies by 23.4% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 137 shares of the company's stock worth $46,000 after acquiring an additional 26 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in Trane Technologies by 1.4% in the 1st quarter. Fiera Capital Corp now owns 1,930 shares of the company's stock worth $650,000 after acquiring an additional 27 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on TT. Royal Bank Of Canada lifted their target price on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. UBS Group lifted their target price 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. Citigroup cut their target price on shares of Trane Technologies from $499.00 to $494.00 and set a "buy" rating for the company in a research report on Wednesday, September 17th. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $407.00 to $434.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 15th. Finally, HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and lifted their target price for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $464.29.

Trane Technologies Trading Up 0.6%

Shares of TT stock opened at $418.20 on Tuesday. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The firm has a fifty day moving average price of $417.39 and a 200-day moving average price of $413.02. 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 company has a market cap of $93.05 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 2.59 and a beta of 1.12.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the previous year, the firm posted $3.30 EPS. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies's payout ratio is presently 29.82%.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 22,497 shares of the company's stock in a transaction on 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 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.14% of the company's stock.

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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