Ritholtz Wealth Management Has $1.02 Million Stock Position in Trane Technologies plc $TT

Key Points

• Ritholtz Wealth Management increased its stake in Trane Technologies plc by 56.6% during the second quarter, owning shares worth $1.02 million after acquiring additional shares.
• Trane Technologies reported earnings of $3.88 per share, exceeding analysts' expectations, with a revenue of $5.75 billion for the quarter.
• The company announced a quarterly dividend of $0.94 per share, with an annualized dividend yield of 0.9% and a payout ratio of 29.82%.

Ritholtz Wealth Management grew its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 56.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,338 shares of the company's stock after buying an additional 845 shares during the period. Ritholtz Wealth Management's holdings in Trane Technologies were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Harbour Investments Inc. boosted its holdings in Trane Technologies by 5.8% during the second quarter. Harbour Investments Inc. now owns 1,194 shares of the company's stock worth $522,000 after buying an additional 65 shares during the last quarter. Bayforest Capital Ltd boosted its holdings in Trane Technologies by 137.2% during the second quarter. Bayforest Capital Ltd now owns 619 shares of the company's stock worth $271,000 after buying an additional 358 shares during the last quarter. Equitable Trust Co. bought a new position in Trane Technologies during the second quarter worth about $252,000. TD Asset Management Inc boosted its holdings in Trane Technologies by 12.1% during the second quarter. TD Asset Management Inc now owns 1,087,974 shares of the company's stock worth $475,891,000 after buying an additional 117,525 shares during the last quarter. Finally, Morningstar Investment Management LLC bought a new position in Trane Technologies during the second quarter worth about $820,000. Institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Up 0.1%

NYSE:TT opened at $416.31 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $92.63 billion, a price-to-earnings ratio of 33.01, a price-to-earnings-growth ratio of 2.59 and a beta of 1.12. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The stock's 50 day moving average price is $417.59 and its two-hundred day moving average price is $411.32.

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

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors 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 dividend yield of 0.9%. Trane Technologies's payout ratio is presently 29.82%.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 123,713 shares of the company's stock, valued at approximately $50,722,330. The trade was a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

TT has been the topic of several recent analyst reports. Royal Bank Of Canada lifted their price objective on Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $407.00 to $434.00 and gave the company a "neutral" rating in a report on Wednesday. HSBC cut Trane Technologies from a "buy" rating to a "hold" rating and lifted their price objective for the company from $415.00 to $460.00 in a report on Thursday, July 31st. Hsbc Global Res cut 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 Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Trane Technologies presently has a consensus 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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