Thrivent Financial for Lutherans Has $21.07 Million Stake in Trane Technologies plc $TT

Key Points

• Thrivent Financial for Lutherans increased its stake in Trane Technologies by 31.3% in the fourth quarter, ending with 54,039 shares valued at about $21.07 million.
• Trane Technologies reported solid quarterly results, with EPS of $2.63 beating estimates and revenue of $4.97 billion topping forecasts; revenue also rose 6% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $506.56, while the company also announced a quarterly dividend of $1.05 per share.

Thrivent Financial for Lutherans raised its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 31.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,039 shares of the company's stock after acquiring an additional 12,892 shares during the quarter. Thrivent Financial for Lutherans' holdings in Trane Technologies were worth $21,071,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of TT. United Community Bank increased its stake in shares of Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company's stock valued at $32,000 after acquiring an additional 43 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Trane Technologies during the third quarter valued at about $32,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Trane Technologies during the third quarter valued at about $42,000. Hantz Financial Services Inc. raised its holdings in shares of Trane Technologies by 58.2% during the third quarter. Hantz Financial Services Inc. now owns 106 shares of the company's stock valued at $45,000 after purchasing an additional 39 shares during the period. Finally, Key Financial Inc raised its stake in Trane Technologies by 833.3% during the 3rd quarter. Key Financial Inc now owns 112 shares of the company's stock worth $48,000 after buying an additional 100 shares during the period. Institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Up 0.0%

Shares of NYSE TT opened at $466.65 on Monday. The stock has a market capitalization of $103.15 billion, a P/E ratio of 36.09, a PEG ratio of 2.15 and a beta of 1.25. The firm's 50 day simple moving average is $450.17 and its two-hundred day simple moving average is $428.86. Trane Technologies plc has a one year low of $348.06 and a one year high of $503.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77.

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

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a dividend of $1.05 per share. 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 payout ratio is presently 32.48%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Evercore assumed coverage on Trane Technologies in a research note on Monday, April 13th. They set an "outperform" rating and a $535.00 price target on the stock. Barclays increased their target price on Trane Technologies from $507.00 to $585.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. BNP Paribas Exane initiated coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 target price on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Trane Technologies in a report on Monday, April 20th. Finally, KeyCorp increased their price target on Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $506.56.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the company's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares of the company's stock, valued at $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David S. Regnery sold 36,045 shares of the company's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the sale, the chief executive officer directly owned 96,948 shares in the company, valued at approximately $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 53,654 shares of company stock valued at $23,269,523. Insiders own 0.14% of the company's stock.

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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