Trane Technologies plc $TT Shares Acquired by Ethic Inc.

Key Points

• Ethic Inc. has increased its shareholding in Trane Technologies plc by 6.6%, acquiring a total of 26,836 shares valued at approximately $11.6 million.
• Several institutional investors, including Ameriflex Group Inc. and Saudi Central Bank, have also made new investments in Trane Technologies, raising the total institutional ownership to 82.97%.
• Trane Technologies recently announced a quarterly dividend of $0.94, with an expected payout date on December 31st, reflecting an annualized dividend of $3.76 and a yield of 0.9%.

Ethic Inc. increased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 6.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,836 shares of the company's stock after purchasing an additional 1,672 shares during the period. Ethic Inc.'s holdings in Trane Technologies were worth $11,601,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Ameriflex Group Inc. acquired a new stake in shares of Trane Technologies during the 2nd quarter worth about $28,000. Saudi Central Bank purchased a new position in shares of Trane Technologies during the first quarter worth about $30,000. Bogart Wealth LLC raised its stake in Trane Technologies by 97.9% during the 1st 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. Tradewinds Capital Management LLC grew its stake in shares of Trane Technologies by 46.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after purchasing an additional 30 shares during the last quarter. Finally, Pinnacle Bancorp Inc. increased its holdings in shares of Trane Technologies by 120.0% in the first quarter. Pinnacle Bancorp Inc. now owns 110 shares of the company's stock valued at $37,000 after purchasing an additional 60 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TT has been the topic of several recent analyst reports. UBS Group boosted their target price on Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. HSBC downgraded Trane Technologies from a "buy" rating to a "hold" rating and lifted their price target for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Robert W. Baird increased their target price on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Trane Technologies in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $407.00 to $434.00 and gave the company a "neutral" rating in a research note on Wednesday, October 15th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Trane Technologies has a consensus rating of "Hold" and an average target price of $464.29.

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the completion of the sale, the chief executive officer directly owned 123,713 shares of the company's stock, valued at approximately $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.14% of the stock is owned by corporate insiders.

Trane Technologies Trading Up 2.3%

Shares of TT opened at $427.97 on Wednesday. Trane Technologies plc has a one year low of $298.15 and a one year 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. The company has a market capitalization of $95.23 billion, a P/E ratio of 33.73, a P/E/G ratio of 2.60 and a beta of 1.12. The stock has a 50-day moving average price of $417.11 and a 200 day moving average price of $413.10.

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

Trane Technologies Announces Dividend

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