Vanguard Personalized Indexing Management LLC Increases Stake in Trane Technologies plc $TT

Key Points

• Vanguard Personalized Indexing Management LLC has increased its stake in Trane Technologies plc by 17.2% during the second quarter, now holding 39,111 shares valued at approximately $17.1 million.
• Trane Technologies' Q2 earnings surpassed consensus estimates, reporting $3.88 earnings per share, a 7.6% year-over-year revenue increase, despite revenue falling slightly short of forecasts.
• The company announced a quarterly dividend of $0.94, with an annualized dividend yield of 0.9%, set to be paid on December 31st to shareholders of record.

Vanguard Personalized Indexing Management LLC grew its stake in Trane Technologies plc (NYSE:TT - Free Report) by 17.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 39,111 shares of the company's stock after buying an additional 5,743 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Trane Technologies were worth $17,108,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriflex Group Inc. purchased a new position in shares of Trane Technologies in the 2nd quarter valued at about $28,000. Saudi Central Bank purchased a new position in shares of Trane Technologies in the 1st quarter valued at about $30,000. Opal Wealth Advisors LLC purchased a new position in shares of Trane Technologies in the 1st quarter valued at about $31,000. Bogart Wealth LLC boosted its stake in shares of Trane Technologies by 97.9% in the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after buying an additional 46 shares during the period. Finally, Tradewinds Capital Management LLC boosted 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 buying an additional 30 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TT shares. HSBC cut Trane Technologies from a "buy" rating to a "hold" rating and boosted their target price for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Weiss Ratings restated a "buy (b)" rating on shares of Trane Technologies in a research note on Wednesday. Wells Fargo & Company boosted their target price on Trane Technologies from $410.00 to $415.00 and gave the stock an "underweight" rating in a research note on Monday, October 6th. Hsbc Global Res cut Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Finally, Barclays decreased their target price on Trane Technologies from $495.00 to $485.00 and set an "overweight" rating for the company in a research note on Tuesday, September 16th. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $457.73.

Trane Technologies Price Performance

Shares of NYSE TT opened at $414.09 on Friday. 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 plc has a twelve month low of $298.15 and a twelve month high of $476.18. The stock has a 50 day moving average of $418.60 and a two-hundred day moving average of $409.03. The stock has a market cap of $92.14 billion, a P/E ratio of 32.84, a P/E/G ratio of 2.57 and a beta of 1.12.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share 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 company had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.77 billion. During the same quarter in the previous year, the business earned $3.30 earnings per share. The firm'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. On average, research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be issued 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 payout ratio is presently 29.82%.

Insider Activity

In other news, CEO David S. Regnery sold 22,497 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer owned 123,713 shares of the company's stock, valued at approximately $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company's stock.

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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