Bryce Point Capital LLC Trims Stake in Trane Technologies plc $TT

Bryce Point Capital LLC reduced its position in Trane Technologies plc (NYSE:TT) by 7.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,051 shares of the company’s stock after selling 175 shares during the period. Trane Technologies accounts for about 0.8% of Bryce Point Capital LLC’s holdings, making the stock its 29th biggest holding. Bryce Point Capital LLC’s holdings in Trane Technologies were worth $897,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TT. Nuveen LLC acquired a new position in Trane Technologies in the 1st quarter valued at about $877,468,000. Wellington Management Group LLP increased its position in Trane Technologies by 245.1% in 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 period. JPMorgan Chase & Co. increased its position in Trane Technologies by 9.8% in 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 period. Nordea Investment Management AB increased its position in Trane Technologies by 89.1% in the 2nd 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 Trane Technologies by 95.1% in 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 period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.5%

Shares of Trane Technologies stock opened at $446.29 on Tuesday. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The firm has a market cap of $99.31 billion, a PE ratio of 35.39, a P/E/G ratio of 2.66 and a beta of 1.12. The business’s fifty day moving average is $417.86 and its two-hundred day moving average is $420.35. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50.

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

Trane Technologies Announces Dividend

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 paid 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 is currently 28.92%.

Analysts Set New Price Targets

Several research firms have issued reports on TT. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and boosted their target price for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. Barclays boosted their target price on Trane Technologies from $485.00 to $495.00 and gave the stock an “overweight” rating in a research report on Friday. The Goldman Sachs Group boosted their target price on Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Finally, Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $466.50.

Insiders Place Their Bets

In related news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total value of $264,000.00. Following the transaction, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at approximately $3,145,120. This trade represents a 7.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 22,497 shares of the stock in a transaction on Tuesday, September 2nd. The stock was 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 $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.14% of the company’s stock.

About Trane Technologies

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.