Royal Bank of Canada Has $655.81 Million Holdings in Trane Technologies plc $TT

Key Points

• Royal Bank of Canada has reduced its stake in Trane Technologies plc by 9.1%, selling 193,820 shares and now owning approximately 0.87% of the company worth $655.8 million.
• Analysts have adjusted their price targets for Trane Technologies, with a new average target of $458.60, reflecting a mix of "Buy," "Hold," and "Sell" ratings.
• Trane Technologies’ most recent earnings showed an EPS of $3.88, which surpassed analysts' expectations, and the company recently announced a quarterly dividend of $0.94 per share.

Royal Bank of Canada lessened its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 9.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,946,487 shares of the company's stock after selling 193,820 shares during the quarter. Royal Bank of Canada owned 0.87% of Trane Technologies worth $655,811,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TT. CWA Asset Management Group LLC lifted its stake in shares of Trane Technologies by 19.2% in the 1st quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock valued at $382,000 after acquiring an additional 183 shares during the last quarter. Ethic Inc. increased its stake in Trane Technologies by 150.1% during the 4th quarter. Ethic Inc. now owns 24,883 shares of the company's stock valued at $9,190,000 after purchasing an additional 14,932 shares in the last quarter. Brighton Jones LLC increased its stake in Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after purchasing an additional 2,323 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Trane Technologies by 495.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company's stock worth $1,433,000 after acquiring an additional 3,538 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings 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. 82.97% of the stock is owned by institutional investors.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the company's stock in a transaction 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on TT. Northcoast Research downgraded shares of Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. HSBC lowered Trane Technologies from a "buy" rating to a "hold" rating and raised their price target for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. The Goldman Sachs Group increased their price objective on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Wells Fargo & Company raised their price target on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Finally, Barclays lifted their price objective on Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of "Hold" and an average target price of $458.60.

Trane Technologies Stock Down 0.7%

Shares of TT traded down $2.91 during midday trading on Wednesday, reaching $408.02. 2,298,470 shares of the company were exchanged, compared to its average volume of 994,618. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The company has a market cap of $90.79 billion, a price-to-earnings ratio of 33.76, a P/E/G ratio of 2.59 and a beta of 1.10. 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 50-day moving average price of $435.12 and a 200-day moving average price of $396.83.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.79 by $0.09. The company had revenue of $5.75 billion during 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 revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's payout ratio is presently 29.82%.

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.