Summit Wealth & Retirement Planning Inc. Buys New Shares in Trane Technologies plc $TT

Summit Wealth & Retirement Planning Inc. bought a new position in shares of Trane Technologies plc (NYSE:TT) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 719 shares of the company’s stock, valued at approximately $314,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Trane Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company’s stock valued at $6,555,377,000 after purchasing an additional 221,206 shares in the last quarter. JPMorgan Chase & Co. increased its holdings 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 buying an additional 1,408,421 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Trane Technologies by 7.2% in the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock valued at $1,208,044,000 after buying an additional 241,910 shares in the last quarter. Nuveen LLC bought a new position in shares of Trane Technologies during the 1st quarter worth about $877,468,000. Finally, Northern Trust Corp increased its stake in Trane Technologies by 0.7% in the first quarter. Northern Trust Corp now owns 2,584,819 shares of the company’s stock valued at $870,877,000 after acquiring an additional 17,292 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $434.01 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The stock has a market capitalization of $96.24 billion, a P/E ratio of 34.42, a P/E/G ratio of 2.66 and a beta of 1.16. The business has a 50-day moving average price of $418.82 and a two-hundred day moving average price of $422.03.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.80 by $0.08. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.80 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. During the same quarter in the previous year, the company earned $3.37 EPS. Trane Technologies’s 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. Equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced 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 is Friday, December 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s payout ratio is presently 28.92%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TT shares. JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and boosted their price target for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Barclays increased their price objective on Trane Technologies from $485.00 to $495.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Northcoast Research cut Trane Technologies from a “buy” rating to a “neutral” rating in a report on Friday, August 1st. Finally, Citigroup upped their target price on shares of Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $466.50.

Insiders Place Their Bets

In other news, CAO Elizabeth A. Elwell sold 600 shares of the firm’s 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 in the company, valued at $3,145,120. This trade represents a 7.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Regnery sold 22,497 shares of Trane Technologies 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 sale, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.14% of the company’s stock.

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.