Robertson Stephens Wealth Management LLC Takes $571,000 Position in Trane Technologies plc $TT

Key Points

• Robertson Stephens Wealth Management LLC has acquired a new stake in Trane Technologies plc, purchasing 1,305 shares valued at approximately $571,000 during the second quarter.
• CEO David S. Regnery sold 22,497 shares of Trane Technologies for approximately $9.22 million, which resulted in a 15.39% decrease in his ownership of the stock.
• Analysts have mixed ratings for Trane Technologies, with six ratings as a "Buy" and ten as "Hold," while Barclays has lowered its price target from $495 to $485.

Robertson Stephens Wealth Management LLC acquired a new stake in Trane Technologies plc (NYSE:TT - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,305 shares of the company's stock, valued at approximately $571,000.

Several other hedge funds have also modified their holdings of TT. Ameriflex Group Inc. acquired a new stake in shares of Trane Technologies in the second quarter valued at $28,000. Saudi Central Bank acquired a new stake in shares of Trane Technologies in the first quarter valued at $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Trane Technologies in the first quarter valued at $31,000. Bogart Wealth LLC raised its stake in shares of Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after acquiring an additional 46 shares in the last quarter. Finally, Tradewinds Capital Management LLC raised its stake in shares of Trane Technologies by 46.2% in the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after acquiring an additional 30 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 123,713 shares in the company, valued at approximately $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TT shares. Barclays reduced their price objective on Trane Technologies from $495.00 to $485.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 16th. Robert W. Baird increased their target price on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. HSBC lowered Trane Technologies from a "buy" rating to a "hold" rating and increased their target price for the company from $415.00 to $460.00 in a report on Thursday, July 31st. Weiss Ratings reissued a "buy (b)" rating on shares of Trane Technologies in a report on Wednesday. Finally, Citigroup dropped their target price on Trane Technologies from $499.00 to $494.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $457.73.

Trane Technologies Stock Performance

Shares of TT stock opened at $414.09 on Friday. The stock's 50-day moving average is $418.60 and its two-hundred day moving average is $409.03. The firm has a market cap of $92.14 billion, a price-to-earnings ratio of 32.84, a PEG ratio of 2.57 and a beta of 1.12. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. 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 (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, topping the consensus estimate of $3.79 by $0.09. The company 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 business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is presently 29.82%.

Trane Technologies 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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