Shelter Rock Management LLC Acquires Shares of 12,929 Trane Technologies plc $TT

Key Points

• Shelter Rock Management opened a new position in Trane Technologies, buying 12,929 shares worth about $5.0 million. The stake makes TT its 11th-largest holding and represents about 5.1% of its portfolio.
• Trane Technologies posted better-than-expected quarterly results, with EPS of $2.63 versus estimates of $2.53 and revenue of $4.97 billion versus $4.81 billion expected. The company also raised its FY 2026 EPS guidance to 14.75–14.95.
• The stock has seen continued interest from institutions and analysts, with hedge funds owning 82.97% of shares and the consensus rating sitting at Moderate Buy. Analysts’ average price target is $506.56, above the recent trading price near $451.57.

Shelter Rock Management LLC purchased a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 12,929 shares of the company's stock, valued at approximately $5,032,000. Trane Technologies accounts for approximately 5.1% of Shelter Rock Management LLC's holdings, making the stock its 11th largest position.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Trane Technologies by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company's stock valued at $7,791,909,000 after buying an additional 192,270 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company's stock valued at $6,550,975,000 after buying an additional 1,433,563 shares during the period. Nordea Investment Management AB grew its stake in shares of Trane Technologies by 2.9% in the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company's stock valued at $1,010,419,000 after buying an additional 72,998 shares during the period. Bank of America Corp DE grew its stake in shares of Trane Technologies by 9.2% in the 3rd quarter. Bank of America Corp DE now owns 2,422,690 shares of the company's stock valued at $1,022,278,000 after buying an additional 203,766 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Trane Technologies by 2.4% in the 3rd quarter. Legal & General Group Plc now owns 1,880,221 shares of the company's stock valued at $793,378,000 after buying an additional 44,243 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Up 0.9%

NYSE:TT opened at $451.57 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The stock's fifty day moving average is $452.26 and its two-hundred day moving average is $429.41. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47. The stock has a market capitalization of $99.82 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 2.07 and a beta of 1.25.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company had revenue of $4.97 billion for the quarter, compared to analysts' expectations of $4.81 billion. During the same period in the prior year, the firm earned $2.45 earnings per share. The firm's revenue was up 6.0% compared to the same quarter last year. Trane Technologies has set its FY 2026 guidance at 14.750-14.950 EPS. Research analysts anticipate that Trane Technologies plc will post 14.9 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies's dividend payout ratio (DPR) is currently 32.48%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the firm's stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the transaction, the chief financial officer owned 60,576 shares of the company's stock, valued at $27,259,200. This trade represents a 12.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elizabeth A. Elwell sold 635 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the transaction, the chief accounting officer directly owned 7,100 shares of the company's stock, valued at $3,001,170. This represents a 8.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 53,654 shares of company stock worth $23,269,523. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on TT shares. Wells Fargo & Company increased their price target on shares of Trane Technologies from $375.00 to $400.00 and gave the company an "underweight" rating in a research note on Friday, January 30th. KeyCorp increased their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Barclays increased their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. BNP Paribas Exane started coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They set an "outperform" rating and a $550.00 price objective for the company. Finally, Evercore began coverage on shares of Trane Technologies in a research report on Monday, April 13th. They set an "outperform" rating and a $535.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $506.56.

About Trane Technologies

Trane Technologies NYSE: TT is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.

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