Wellington Management Group LLP Has $1.03 Billion Holdings in Trane Technologies plc $TT

Key Points

• Wellington Management reduced its Trane Technologies stake by 8.2% in the second quarter, selling 186,669 shares. It still held 2.10 million shares worth approximately $1.03 billion, while institutional investors collectively owned 82.97% of the company.
• Analyst sentiment remains positive, with Trane Technologies receiving a “Moderate Buy” consensus rating and an average price target of $521.50. Recent targets ranged from $476 to $575.
• Trane Technologies beat quarterly expectations with $4.31 in EPS and $6.35 billion in revenue, up 10.6% year over year. The company also declared a $1.05 quarterly dividend, equivalent to a 0.9% annual yield.

Wellington Management Group LLP lessened its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 8.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,097,038 shares of the company's stock after selling 186,669 shares during the quarter. Wellington Management Group LLP owned 0.95% of Trane Technologies worth $1,029,981,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Norges Bank acquired a new position in Trane Technologies during the fourth quarter worth $1,163,124,000. Capital International Investors acquired a new stake in shares of Trane Technologies in the 4th quarter valued at $324,639,000. Amundi grew its holdings in shares of Trane Technologies by 47.8% in the 1st quarter. Amundi now owns 2,174,396 shares of the company's stock worth $906,158,000 after purchasing an additional 703,018 shares during the last quarter. First Trust Advisors LP increased its position in shares of Trane Technologies by 536.6% during the 1st quarter. First Trust Advisors LP now owns 532,138 shares of the company's stock worth $221,763,000 after purchasing an additional 448,547 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Trane Technologies by 215.9% during the 1st quarter. Hsbc Holdings PLC now owns 653,423 shares of the company's stock worth $271,950,000 after purchasing an additional 446,598 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

TT has been the topic of a number of recent analyst reports. Sanford C. Bernstein boosted their price target on shares of Trane Technologies from $555.00 to $575.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. Weiss Ratings lowered shares of Trane Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Citigroup reduced their target price on Trane Technologies from $570.00 to $566.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Finally, Wall Street Zen upgraded Trane Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $521.50.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 43,778 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $475.00, for a total value of $20,794,550.00. Following the completion of the sale, the chief executive officer owned 96,950 shares of the company's stock, valued at $46,051,250. This trade represents a 31.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Performance

Trane Technologies stock opened at $448.67 on Friday. The stock has a 50-day simple moving average of $472.93 and a 200 day simple moving average of $461.34. The stock has a market capitalization of $98.72 billion, a price-to-earnings ratio of 33.99, a P/E/G ratio of 1.99 and a beta of 1.19. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 0.45. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $4.31 EPS for the quarter, topping analysts' consensus estimates of $4.27 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.20 billion. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The company's revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.88 EPS. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. On average, research analysts anticipate that Trane Technologies plc will post 15.31 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies's dividend payout ratio is 31.82%.

Trane Technologies 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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