Washington Trust Bank Sells 565 Shares of Trane Technologies plc $TT

Washington Trust Bank cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 37.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 936 shares of the company’s stock after selling 565 shares during the quarter. Washington Trust Bank’s holdings in Trane Technologies were worth $409,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ameriflex Group Inc. bought a new position in shares of Trane Technologies during the 2nd quarter worth approximately $28,000. Hantz Financial Services Inc. increased its position in shares of Trane Technologies by 1,016.7% in the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after purchasing an additional 61 shares during the period. Saudi Central Bank bought a new stake in Trane Technologies during the first quarter worth about $30,000. Bogart Wealth LLC grew its stake in Trane Technologies by 97.9% during the first quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock worth $31,000 after buying an additional 46 shares in the last quarter. Finally, Dagco Inc. acquired a new position in shares of Trane Technologies in the 1st quarter valued at approximately $37,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Trading Down 0.0%

Shares of TT opened at $435.97 on Friday. The firm has a market cap of $96.67 billion, a P/E ratio of 34.57, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The business has a 50-day moving average of $418.44 and a 200 day moving average of $421.26.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate 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 last year, the company posted $3.37 EPS. The business’s quarterly revenue 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, research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company 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 dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio is presently 28.92%.

Insider Buying and Selling at Trane Technologies

In other 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 sale, the chief executive officer owned 123,713 shares in the company, valued at approximately $50,722,330. The trade was a 15.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Elizabeth A. Elwell sold 600 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 7,148 shares in the company, valued at $3,145,120. The trade was a 7.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TT shares. Wells Fargo & Company upped their price objective on Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research report on Monday, October 6th. Barclays increased their price objective on shares of Trane Technologies from $485.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and upped their price target for the stock from $415.00 to $460.00 in a report on Thursday, July 31st. Morgan Stanley boosted their target price on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Trane Technologies currently 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.