Trane Technologies plc $TT Shares Sold by SVB Wealth LLC

Key Points

• SVB Wealth LLC reduced its stake in Trane Technologies plc by 26.6% in the first quarter, now holding 2,706 shares valued at $912,000.
• Trane Technologies reported earnings of $3.88 per share for the recent quarter, exceeding analyst estimates, and projected a FY 2025 EPS guidance of 13.050.
• The company affirmed a quarterly dividend of $0.94 per share, with an annualized dividend yield of 0.9%, set to be paid on September 30th.

SVB Wealth LLC lessened its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 26.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,706 shares of the company's stock after selling 982 shares during the period. SVB Wealth LLC's holdings in Trane Technologies were worth $912,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TT. WFA Asset Management Corp lifted its position in Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new stake in Trane Technologies during the fourth quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Trane Technologies during the fourth quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in Trane Technologies during the first quarter valued at approximately $31,000. Finally, Bogart Wealth LLC lifted its position 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 acquiring an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Price Performance

TT traded up $0.73 during midday trading on Thursday, hitting $424.92. 1,093,251 shares of the company traded hands, compared to its average volume of 1,446,550. 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 company has a market capitalization of $94.55 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.66 and a beta of 1.09. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The business has a 50 day simple moving average of $435.69 and a two-hundred day simple moving average of $395.09.

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

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid 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%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Northcoast Research lowered shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. UBS Group upped their price target on shares of Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Barclays upped their price target on shares of Trane Technologies from $480.00 to $495.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Citigroup upped their price target on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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.