Trane Technologies plc $TT Shares Acquired by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its Trane Technologies stake by 0.3% in the fourth quarter, ending with 5.07 million shares worth about $1.96 billion, or roughly 2.29% of the company.
• Trane Technologies posted better-than-expected Q1 results, with earnings of $2.63 per share and revenue of $4.97 billion, both above analyst estimates. The company also raised its FY2026 guidance to $14.75-$14.95 EPS.
• Wall Street sentiment remains constructive overall, with an average “Moderate Buy” rating and an average price target of $506.56. The company also announced a quarterly dividend of $1.05 per share, payable June 30.

Geode Capital Management LLC lifted its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 0.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,071,072 shares of the company's stock after purchasing an additional 14,179 shares during the quarter. Geode Capital Management LLC owned about 2.29% of Trane Technologies worth $1,964,896,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in TT. JPMorgan Chase & Co. lifted its position in shares of Trane Technologies by 10.2% during the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company's stock worth $6,550,975,000 after purchasing an additional 1,433,563 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Trane Technologies by 135.4% during the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company's stock worth $321,757,000 after purchasing an additional 423,090 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Trane Technologies by 13,460.8% during the fourth quarter. SG Americas Securities LLC now owns 423,504 shares of the company's stock worth $164,828,000 after purchasing an additional 420,381 shares in the last quarter. Credit Agricole S A acquired a new stake in shares of Trane Technologies during the third quarter worth about $118,129,000. Finally, Phoenix Financial Ltd. lifted its position in shares of Trane Technologies by 1,958.5% during the fourth quarter. Phoenix Financial Ltd. now owns 291,665 shares of the company's stock worth $113,515,000 after purchasing an additional 277,496 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TT shares. Oppenheimer increased their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an "outperform" rating in a research report on Friday, January 30th. BNP Paribas Exane began coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They set an "outperform" rating and a $550.00 price target on the stock. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. Evercore began coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an "outperform" rating and a $535.00 target price on the stock. Finally, Royal Bank Of Canada raised their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a "sector perform" rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $506.56.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 36,045 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the transaction, the chief executive officer directly owned 96,948 shares in the company, valued at $40,978,950.12. This represents a 27.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the transaction, the chief accounting officer owned 7,100 shares in the company, valued at $3,001,170. This represents a 8.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 53,654 shares of company stock valued at $23,269,523. Company insiders own 0.14% of the company's stock.

Trane Technologies Stock Down 1.1%

Shares of NYSE:TT opened at $452.79 on Friday. The firm's 50 day moving average price is $454.93 and its 200 day moving average price is $429.89. The stock has a market cap of $100.09 billion, a price-to-earnings ratio of 35.02, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to analysts' expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm's revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.45 earnings per share. Trane Technologies has set its FY 2026 guidance at 14.750-14.950 EPS. As a group, equities research analysts predict that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies's dividend payout ratio is currently 32.48%.

Trane Technologies Company Profile

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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