Jennison Associates LLC Trims Stock Position in Trane Technologies plc $TT

Jennison Associates LLC reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 8.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,016 shares of the company’s stock after selling 274 shares during the quarter. Jennison Associates LLC’s holdings in Trane Technologies were worth $1,319,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ethic Inc. increased its stake in shares of Trane Technologies by 6.6% in the 2nd quarter. Ethic Inc. now owns 26,836 shares of the company’s stock worth $11,601,000 after acquiring an additional 1,672 shares in the last quarter. OMNI 360 Wealth Inc. bought a new position in shares of Trane Technologies in the 2nd quarter worth about $345,000. Triton Financial Group Inc bought a new position in shares of Trane Technologies in the 2nd quarter worth about $1,273,000. Jones Financial Companies Lllp increased its stake in shares of Trane Technologies by 350.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company’s stock worth $7,140,000 after acquiring an additional 16,485 shares in the last quarter. Finally, BROOKFIELD Corp ON increased its stake in shares of Trane Technologies by 11.0% in the 1st quarter. BROOKFIELD Corp ON now owns 8,227 shares of the company’s stock worth $2,772,000 after acquiring an additional 812 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Trane Technologies

In other 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 transaction of $9,223,770.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Elizabeth A. Elwell sold 600 shares of the firm’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $440.00, for a total transaction of $264,000.00. Following the sale, the chief accounting officer directly owned 7,148 shares in the company, valued at approximately $3,145,120. The trade was a 7.74% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.14% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $448.95 on Friday. The firm’s 50-day moving average price is $417.33 and its 200-day moving average price is $418.93. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The company has a market cap of $99.90 billion, a PE ratio of 35.60, a PEG ratio of 2.66 and a beta of 1.12. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18.

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

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio (DPR) is presently 28.92%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TT shares. Wells Fargo & Company increased their price target on shares of Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research note on Monday, October 6th. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $466.50.

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.