Moran Wealth Management LLC Trims Stock Position in Trane Technologies plc $TT

Moran Wealth Management LLC decreased its holdings in Trane Technologies plc (NYSE:TT) by 27.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 133,392 shares of the company’s stock after selling 49,822 shares during the period. Trane Technologies accounts for approximately 1.8% of Moran Wealth Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Moran Wealth Management LLC’s holdings in Trane Technologies were worth $58,347,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new position in shares of Trane Technologies during the second quarter worth about $28,000. Saudi Central Bank acquired a new stake in Trane Technologies during the 1st quarter valued at approximately $30,000. Opal Wealth Advisors LLC acquired a new stake in Trane Technologies during the 1st quarter valued at approximately $31,000. Bogart Wealth LLC increased its position in Trane Technologies by 97.9% during the 1st 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 period. Finally, Tradewinds Capital Management LLC increased its position in Trane Technologies by 46.2% during the 1st 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 period. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. Morgan Stanley lifted their price objective on Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Robert W. Baird raised their target price on Trane Technologies from $396.00 to $450.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Wells Fargo & Company raised 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. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $457.73.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the sale, the chief executive officer owned 123,713 shares in the company, valued at approximately $50,722,330. The trade was a 15.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by insiders.

Trane Technologies Stock Performance

Shares of TT opened at $418.14 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The stock has a 50-day moving average of $418.28 and a 200-day moving average of $410.08. The company has a market cap of $93.04 billion, a PE ratio of 33.16, a P/E/G ratio of 2.57 and a beta of 1.12. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18.

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

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio is presently 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.