Gables Capital Management Inc. Cuts Holdings in Trane Technologies plc $TT

Gables Capital Management Inc. trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 16.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 391 shares of the company’s stock after selling 75 shares during the quarter. Gables Capital Management Inc.’s holdings in Trane Technologies were worth $171,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new position in Trane Technologies during the second quarter valued at approximately $28,000. Saudi Central Bank acquired a new stake in Trane Technologies in the first quarter valued at approximately $30,000. Bogart Wealth LLC boosted its stake in Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares in the last quarter. Tradewinds Capital Management LLC boosted its stake in Trane Technologies by 46.2% in the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company’s stock valued at $32,000 after acquiring an additional 30 shares in the last quarter. Finally, Pinnacle Bancorp Inc. boosted its stake in Trane Technologies by 120.0% in the first quarter. Pinnacle Bancorp Inc. now owns 110 shares of the company’s stock valued at $37,000 after acquiring an additional 60 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on TT. Morgan Stanley raised their target price on shares of Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Wells Fargo & Company raised their target price on shares of Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a research note on Monday, October 6th. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note 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 company a “sector perform” rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $464.29.

Insider Transactions at Trane Technologies

In related 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 transaction, the chief executive officer directly owned 123,713 shares in the company, valued at $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 available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Trane Technologies Trading Up 1.5%

NYSE:TT opened at $424.83 on Wednesday. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The firm has a fifty day simple moving average of $417.11 and a 200-day simple moving average of $413.10. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $94.53 billion, a P/E ratio of 33.69, a PEG ratio of 2.60 and a beta of 1.12.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.79 by $0.09. The business had revenue of $5.75 billion during 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 business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous 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 anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be given a dividend of $0.94 per share. 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%.

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.