US Bancorp DE Sells 1,334 Shares of Trane Technologies plc $TT

Key Points

• US Bancorp DE has reduced its holdings in Trane Technologies plc by 2.0%, selling 1,334 shares, which represents a total of 66,583 shares worth approximately $29.12 million.
• Trane Technologies reported $3.88 EPS for the last quarter, surpassing analysts' estimates, whereas revenue reached $5.75 billion, slightly below expectations.
• A quarterly dividend of $0.94 has been declared, set to be paid on December 31st, with a 0.9% dividend yield and a payout ratio of about 29.82%.

US Bancorp DE reduced its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 2.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 66,583 shares of the company's stock after selling 1,334 shares during the period. US Bancorp DE's holdings in Trane Technologies were worth $29,124,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. bought a new stake in shares of Trane Technologies during the 2nd quarter worth approximately $28,000. Saudi Central Bank bought a new stake in shares of Trane Technologies during the 1st quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new stake in shares of Trane Technologies during the 1st quarter worth approximately $31,000. Bogart Wealth LLC increased its holdings in Trane Technologies by 97.9% during the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after purchasing an additional 46 shares during the period. Finally, Tradewinds Capital Management LLC increased its holdings in Trane Technologies by 46.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock worth $32,000 after purchasing an additional 30 shares during the period. 82.97% of the stock is owned by institutional investors.

Trane Technologies Trading Down 1.1%

Shares of NYSE:TT opened at $414.09 on Friday. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The business's fifty day simple moving average is $418.60 and its 200-day simple moving average is $408.64. The company has a market capitalization of $92.14 billion, a PE ratio of 32.84, a P/E/G ratio of 2.60 and a beta of 1.12. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly 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 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 the consensus estimate of $5.77 billion. During the same period last year, the business posted $3.30 EPS. The business's revenue was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, equities research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal 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 given a $0.94 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is presently 29.82%.

Analyst Upgrades and Downgrades

TT has been the topic of several research reports. Citigroup reduced their price objective on Trane Technologies from $499.00 to $494.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Wells Fargo & Company raised their price objective on Trane Technologies from $410.00 to $415.00 and gave the stock an "underweight" rating in a report on Monday, October 6th. UBS Group raised their price objective on Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Robert W. Baird raised their price objective on Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Barclays reduced their price objective on Trane Technologies from $495.00 to $485.00 and set an "overweight" rating on the stock in a report on Tuesday, September 16th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $457.73.

Insider Buying and Selling at Trane Technologies

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 value of $9,223,770.00. Following the completion of the sale, the chief executive officer owned 123,713 shares of the company's stock, valued at $50,722,330. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by insiders.

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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