TD Asset Management Inc Purchases 117,525 Shares of Trane Technologies plc $TT

Key Points

• TD Asset Management Inc increased its position in Trane Technologies plc by 12.1%, acquiring an additional 117,525 shares during the second quarter, bringing its total holdings to approximately $475.9 million.
• The company's CEO, David S. Regnery, recently sold 22,497 shares for around $9.2 million, indicating a 15.39% decrease in his ownership stake.
• Analyst ratings for Trane Technologies vary, with six analysts giving a Buy rating, while the average price target stands at $457.73 despite some recent downgrades from firms like Barclays and HSBC.

TD Asset Management Inc increased its position in Trane Technologies plc (NYSE:TT - Free Report) by 12.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,087,974 shares of the company's stock after acquiring an additional 117,525 shares during the quarter. TD Asset Management Inc owned about 0.49% of Trane Technologies worth $475,891,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in Trane Technologies in the 1st quarter worth $877,468,000. Wellington Management Group LLP grew its position in Trane Technologies by 245.1% in the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company's stock worth $722,493,000 after purchasing an additional 1,522,933 shares during the last quarter. JPMorgan Chase & Co. grew its position in Trane Technologies by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock worth $5,297,235,000 after purchasing an additional 1,408,421 shares during the last quarter. AQR Capital Management LLC grew its position in Trane Technologies by 95.1% in the 1st quarter. AQR Capital Management LLC now owns 885,039 shares of the company's stock worth $291,727,000 after purchasing an additional 431,495 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in shares of Trane Technologies by 27.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company's stock valued at $645,343,000 after acquiring an additional 410,734 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 22,497 shares of the firm's 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 transaction, the chief executive officer directly owned 123,713 shares of the company's stock, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TT shares. Barclays decreased their target price on shares of Trane Technologies from $495.00 to $485.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 16th. Citigroup reduced their price target on shares of Trane Technologies from $499.00 to $494.00 and set a "buy" rating on the stock in a research report on Wednesday, September 17th. HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and boosted their target price for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Morgan Stanley boosted their target price on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Robert W. Baird boosted their target price on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Trane Technologies has an average rating of "Hold" and an average price target of $457.73.

Trane Technologies Stock Up 1.0%

Shares of NYSE TT opened at $418.14 on Tuesday. The stock has a market cap of $93.04 billion, a P/E ratio of 33.16, a P/E/G ratio of 2.57 and a beta of 1.12. The firm has a 50 day moving average price of $418.28 and a 200 day moving average price of $410.08. Trane Technologies plc has a 52-week low of $298.15 and a 52-week 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 for the quarter, beating 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 net margin of 13.76% and a return on equity of 36.61%. The company's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be given 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, December 5th. Trane Technologies's dividend payout ratio (DPR) is currently 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.

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