Sequoia Financial Advisors LLC Increases Stake in Trane Technologies plc $TT

Sequoia Financial Advisors LLC grew its position in shares of Trane Technologies plc (NYSE:TT) by 7.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,621 shares of the company’s stock after acquiring an additional 374 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Trane Technologies were worth $2,459,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TT. Nuveen LLC bought a new position in shares of Trane Technologies during the 1st quarter valued at approximately $877,468,000. Wellington Management Group LLP boosted its position in shares of Trane Technologies by 245.1% during the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock valued at $722,493,000 after acquiring an additional 1,522,933 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after acquiring an additional 1,408,421 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Trane Technologies by 95.1% during the 1st quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock valued at $291,727,000 after acquiring an additional 431,495 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in Trane Technologies by 27.3% in the first quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company’s stock worth $645,343,000 after buying an additional 410,734 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on TT shares. Citigroup lowered their price target on Trane Technologies from $499.00 to $494.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. Northcoast Research downgraded Trane Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, August 1st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Morgan Stanley raised their price target on Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Six investment 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 company has a consensus rating of “Hold” and an average target price of $460.00.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $423.27 on Thursday. The firm has a market cap of $94.18 billion, a P/E ratio of 33.57, a P/E/G ratio of 2.64 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. The stock’s fifty day moving average price is $418.11 and its 200-day moving average price is $410.26.

Trane Technologies (NYSE:TT) last announced its quarterly 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 firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share 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. Shareholders of record on Friday, December 5th will be issued a $0.94 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s payout ratio is currently 29.82%.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the business’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 completion of the transaction, the chief executive officer directly owned 123,713 shares in the company, valued at approximately $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Company 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.