Trane Technologies plc $TT Shares Purchased by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC increased its Trane Technologies stake by 3.2% in the fourth quarter, buying 4,152 additional shares to bring its total to 134,418 shares valued at about $52.3 million.
• Wall Street sentiment remains broadly positive, with analysts assigning Trane Technologies an average “Moderate Buy” rating and a consensus price target of $506.56. Recent firms including Citigroup and Barclays also raised their targets.
• Trane Technologies posted strong quarterly results, reporting adjusted EPS of $2.63 and revenue of $4.97 billion, both ahead of expectations, while also declaring a quarterly dividend of $1.05 per share.

HighTower Advisors LLC lifted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 134,418 shares of the company's stock after purchasing an additional 4,152 shares during the quarter. HighTower Advisors LLC owned about 0.06% of Trane Technologies worth $52,316,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Trane Technologies by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company's stock valued at $7,791,909,000 after purchasing an additional 192,270 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Trane Technologies by 10.2% in the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company's stock valued at $6,550,975,000 after purchasing an additional 1,433,563 shares during the last quarter. Nordea Investment Management AB increased its stake in Trane Technologies by 2.9% during the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company's stock worth $1,010,419,000 after acquiring an additional 72,998 shares during the last quarter. Bank of America Corp DE increased its stake in Trane Technologies by 9.2% during the third quarter. Bank of America Corp DE now owns 2,422,690 shares of the company's stock worth $1,022,278,000 after acquiring an additional 203,766 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Trane Technologies by 2.4% during the third quarter. Legal & General Group Plc now owns 1,880,221 shares of the company's stock worth $793,378,000 after acquiring an additional 44,243 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analyst Weigh In

TT has been the subject of several recent analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Trane Technologies in a research note on Monday, April 20th. Citigroup raised their target price on Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. JPMorgan Chase & Co. raised their target price on Trane Technologies from $460.00 to $476.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Barclays raised their target price on Trane Technologies from $507.00 to $585.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Finally, Evercore initiated coverage on Trane Technologies in a research note on Monday, April 13th. They set an "outperform" rating and a $535.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $506.56.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies 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 completion of the transaction, the chief financial officer directly owned 60,576 shares in the company, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider owned 3,819 shares of the company's stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 53,654 shares of company stock valued at $23,269,523. Corporate insiders own 0.14% of the company's stock.

Trane Technologies Trading Down 1.1%

Shares of NYSE TT opened at $446.83 on Friday. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $503.47. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $451.88 and a 200-day simple moving average of $429.26. The stock has a market capitalization of $98.77 billion, a PE ratio of 34.56, a PEG ratio of 2.08 and a beta of 1.25.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data 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. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business had revenue of $4.97 billion during the quarter, compared to analysts' expectations of $4.81 billion. During the same period in the previous year, the firm posted $2.45 earnings per share. The company's revenue was up 6.0% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 14.750-14.950 EPS. On average, equities analysts forecast that Trane Technologies plc will post 14.9 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies's payout ratio is presently 32.48%.

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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