Trane Technologies plc $TT Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its holdings in Trane Technologies by 31.9%, selling 135,112 shares and now owning 288,226 shares valued at approximately $97.1 million.
• In the most recent quarter, Trane Technologies reported earnings of $3.88 per share, exceeding analysts' expectations, with a net margin of 13.76% and revenue of $5.75 billion.
• Trane Technologies also announced a quarterly dividend of $0.94 per share, with an ex-dividend date of September 5th, resulting in a 0.9% yield.

The Manufacturers Life Insurance Company trimmed its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 31.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 288,226 shares of the company's stock after selling 135,112 shares during the period. The Manufacturers Life Insurance Company owned about 0.13% of Trane Technologies worth $97,106,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. CWA Asset Management Group LLC grew its stake in 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 period. Ethic Inc. boosted its holdings in Trane Technologies by 150.1% in the 4th quarter. Ethic Inc. now owns 24,883 shares of the company's stock worth $9,190,000 after buying an additional 14,932 shares during the last quarter. Brighton Jones LLC boosted its holdings in Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after buying an additional 2,323 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Trane Technologies by 495.5% in the first 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 stake in shares of Trane Technologies by 13.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,141 shares of the company's stock worth $3,417,000 after acquiring an additional 1,198 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Down 0.7%

Trane Technologies stock traded down $2.91 during midday trading on Wednesday, reaching $408.02. The company's stock had a trading volume of 2,295,626 shares, compared to its average volume of 1,445,796. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The company has a market cap of $90.79 billion, a P/E ratio of 32.36, a P/E/G ratio of 2.59 and a beta of 1.10. The business has a 50-day simple moving average of $435.12 and a 200-day simple moving average of $396.83.

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

Trane Technologies Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have issued reports on TT shares. Citigroup lifted their target price on shares of Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Robert W. Baird boosted their price target on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Barclays boosted their target price on Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Royal Bank Of Canada boosted their price objective on Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Finally, Wells Fargo & Company boosted their price objective on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $458.60.

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.