Principle Wealth Partners LLC Purchases Shares of 936 Trane Technologies plc $TT

Key Points

• Principle Wealth Partners LLC has acquired a new position in Trane Technologies plc, purchasing 936 shares valued at approximately $409,000.
• Trane Technologies recently announced a quarterly dividend of $0.94 per share, representing an annualized yield of 0.9% and a payout ratio of 29.82%.
• In its latest earnings report, Trane Technologies surpassed expectations with earnings per share (EPS) of $3.88, beating analysts' estimates of $3.79.

Principle Wealth Partners LLC bought a new position in Trane Technologies plc (NYSE:TT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 936 shares of the company's stock, valued at approximately $409,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TT. Brighton Jones LLC boosted its stake in shares of Trane Technologies by 60.0% in the 4th 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 during the last quarter. GAMMA Investing LLC boosted its stake in shares of Trane Technologies by 5.5% in the 1st quarter. GAMMA Investing LLC now owns 5,983 shares of the company's stock worth $2,016,000 after buying an additional 314 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Trane Technologies by 13.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,141 shares of the company's stock worth $3,417,000 after buying an additional 1,198 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Trane Technologies by 495.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company's stock worth $1,433,000 after buying an additional 3,538 shares during the last quarter. Finally, Legacy Advisors LLC boosted its stake in shares of Trane Technologies by 6.2% in the 1st quarter. Legacy Advisors LLC now owns 653 shares of the company's stock worth $220,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Trading Up 1.9%

NYSE:TT opened at $416.15 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $92.60 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 2.54 and a beta of 1.12. The firm's 50 day moving average is $416.31 and its 200 day moving average is $413.76. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results 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 business had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.77 billion. During the same quarter in the previous year, the firm posted $3.30 EPS. The business'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. Sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.9%. Trane Technologies's payout ratio is presently 29.82%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the sale, the chief executive officer owned 123,713 shares of the company's stock, valued at $50,722,330. The trade was a 15.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

TT has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their target price on Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Northcoast Research downgraded Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. Hsbc Global Res downgraded Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Morgan Stanley lifted their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, HSBC cut shares of Trane Technologies from a "buy" rating to a "hold" rating and lifted their price target for the stock from $415.00 to $460.00 in a report on Thursday, July 31st. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $464.29.

Trane Technologies Company 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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