Wilmington Savings Fund Society FSB Sells 970 Shares of Trane Technologies plc $TT

Key Points

• Wilmington Savings Fund Society FSB reduced its stake in Trane Technologies by 10.3%, selling 970 shares, and now holds 8,411 shares valued at $3,679,000.
• Several analysts adjusted their ratings and target prices for Trane Technologies, with Morgan Stanley raising its price target to $520.00 while HSBC downgraded its rating from "strong-buy" to "hold."
• Trane Technologies declared a quarterly dividend of $0.94 per share, indicating an annualized dividend yield of 0.9%, which will be paid on December 31st.

Wilmington Savings Fund Society FSB decreased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 10.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,411 shares of the company's stock after selling 970 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Trane Technologies were worth $3,679,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TT. Ameriflex Group Inc. bought a new position in Trane Technologies during the second quarter valued at $28,000. Saudi Central Bank bought a new position in Trane Technologies during the first quarter valued at $30,000. Opal Wealth Advisors LLC bought a new position in Trane Technologies during the first quarter valued at $31,000. Bogart Wealth LLC lifted its position in Trane Technologies by 97.9% during the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after purchasing an additional 46 shares during the last quarter. Finally, Tradewinds Capital Management LLC lifted its position in Trane Technologies by 46.2% during the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on TT shares. Morgan Stanley increased their price objective on shares of Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. HSBC lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and raised their target price for the stock from $415.00 to $460.00 in a report on Thursday, July 31st. Finally, Northcoast Research lowered shares of Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $457.73.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 22,497 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were 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 $50,722,330. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is owned by corporate insiders.

Trane Technologies Price Performance

Trane Technologies stock opened at $423.51 on Wednesday. The firm has a 50-day moving average price of $418.18 and a 200-day moving average price of $410.17. The firm has a market capitalization of $94.23 billion, a PE ratio of 33.59, a price-to-earnings-growth 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 plc has a 12-month low of $298.15 and a 12-month high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.79 by $0.09. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies's dividend payout ratio (DPR) is currently 29.82%.

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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