Rafferty Asset Management LLC Sells 3,674 Shares of Trane Technologies plc $TT

Key Points

• Rafferty Asset Management LLC reduced its stake in Trane Technologies plc by 17.5% during the 1st quarter, bringing its holdings down to 17,337 shares valued at approximately $5.84 million.
• Multiple institutional investors, including Vanguard Group and JPMorgan Chase, increased their holdings in Trane Technologies, indicating strong institutional interest in the stock.
• Wall Street analysts have raised their price targets for Trane Technologies, with estimates ranging up to **$520** and a consensus target price of **$458.60**, reflecting positive sentiment towards the company.

Rafferty Asset Management LLC lowered its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 17.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,337 shares of the company's stock after selling 3,674 shares during the period. Rafferty Asset Management LLC's holdings in Trane Technologies were worth $5,841,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Minot DeBlois Advisors LLC purchased a new stake in Trane Technologies in the 4th quarter worth approximately $26,000. WFA Asset Management Corp increased its holdings in shares of Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after purchasing an additional 50 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth $28,000. Opal Wealth Advisors LLC bought a new stake in Trane Technologies during the first quarter valued at $31,000. Finally, Bogart Wealth LLC boosted its stake in Trane Technologies by 97.9% during the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after buying an additional 46 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Trading Down 1.1%

Shares of TT stock traded down $4.46 on Wednesday, hitting $406.47. 964,476 shares of the company's stock traded hands, compared to its average volume of 1,437,519. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. The company's fifty day simple moving average is $435.12 and its 200 day simple moving average is $396.83. The stock has a market capitalization of $90.44 billion, a price-to-earnings ratio of 32.23, a P/E/G ratio of 2.59 and a beta of 1.10.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share 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 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is currently 29.82%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TT. Wells Fargo & Company lifted their price objective on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. UBS Group lifted their price objective on Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Citigroup lifted their price objective on Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Finally, Morgan Stanley lifted their price objective 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. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $458.60.

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.