Trane Technologies plc $TT Shares Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its holdings in Trane Technologies by 16.7% during the 2nd quarter, acquiring an additional 61,784 shares for a total of $187.7 million.
• CEO David S. Regnery sold 22,497 shares at an average price of $410.00, reflecting a 15.39% decrease in his ownership.
• Analysts have set a new average price target of $457.73 for Trane Technologies, with ratings varying from buy to sell.

Aberdeen Group plc grew its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 16.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 432,062 shares of the company's stock after buying an additional 61,784 shares during the quarter. Aberdeen Group plc owned about 0.19% of Trane Technologies worth $187,748,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Trane Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company's stock worth $6,555,377,000 after purchasing an additional 221,206 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Trane Technologies by 9.8% during the first 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. Ameriprise Financial Inc. raised its holdings in Trane Technologies by 7.2% during the first quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company's stock worth $1,208,044,000 after purchasing an additional 241,910 shares during the last quarter. Nuveen LLC acquired a new position in Trane Technologies during the first quarter worth $877,468,000. Finally, Northern Trust Corp raised its holdings in Trane Technologies by 0.7% during the first quarter. Northern Trust Corp now owns 2,584,819 shares of the company's stock worth $870,877,000 after purchasing an additional 17,292 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO David S. Regnery sold 22,497 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the sale, the chief executive officer owned 123,713 shares in the company, valued at $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

TT has been the subject of several research reports. Morgan Stanley lifted their price objective on Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Royal Bank Of Canada raised their price target on Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Weiss Ratings reissued a "buy (b)" rating on shares of Trane Technologies in a research report on Wednesday. Northcoast Research downgraded Trane Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, August 1st. Finally, The Goldman Sachs Group raised their price target on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Trane Technologies currently has an average rating of "Hold" and an average price target of $457.73.

Trane Technologies Price Performance

TT stock opened at $414.09 on Friday. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The stock's fifty day simple moving average is $418.60 and its 200-day simple moving average is $408.64. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $92.14 billion, a price-to-earnings ratio of 32.84, a price-to-earnings-growth ratio of 2.60 and a beta of 1.12.

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, 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 analysts' expectations of $5.77 billion. During the same quarter last year, the firm earned $3.30 earnings per share. The business's 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. Equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, December 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is 29.82%.

Trane Technologies 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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