BLB&B Advisors LLC Sells 44 Shares of Trane Technologies plc $TT

BLB&B Advisors LLC cut its holdings in Trane Technologies plc (NYSE:TT) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,037 shares of the company’s stock after selling 44 shares during the period. BLB&B Advisors LLC’s holdings in Trane Technologies were worth $1,766,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TT. Nuveen LLC bought a new stake in Trane Technologies in the first quarter worth $877,468,000. Wellington Management Group LLP increased its position in shares of Trane Technologies by 245.1% in the first 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 period. JPMorgan Chase & Co. increased its position in shares of Trane Technologies by 9.8% in the first 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 period. Nordea Investment Management AB increased its position in shares of Trane Technologies by 89.1% in the second quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock valued at $1,066,845,000 after acquiring an additional 1,157,405 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Trane Technologies by 95.1% in the first 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 period. 82.97% of the stock is owned by institutional investors.

Trane Technologies Trading Up 4.6%

NYSE:TT opened at $447.10 on Friday. The company’s 50-day simple moving average is $416.83 and its 200 day simple moving average is $417.70. The firm has a market capitalization of $99.48 billion, a P/E ratio of 35.46, a PEG ratio of 2.66 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. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter in the prior year, the company posted $3.37 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be given a $0.94 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.76 annualized dividend and a yield of 0.8%. Trane Technologies’s dividend payout ratio (DPR) is presently 29.82%.

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction that occurred on 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 directly owned 123,713 shares in the company, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TT shares. Robert W. Baird boosted their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Barclays reduced their price target on shares of Trane Technologies from $495.00 to $485.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 16th. Royal Bank Of Canada boosted their price target on shares of Trane Technologies from $463.00 to $467.00 and gave the company a “sector perform” rating in a research report on Thursday, July 31st. Finally, Northcoast Research cut shares of Trane Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, August 1st. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Trane Technologies presently has an average rating of “Hold” and an average price target of $464.29.

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.