Pekin Hardy Strauss Inc. Acquires Shares of 500 Trane Technologies plc $TT

Pekin Hardy Strauss Inc. bought a new position in Trane Technologies plc (NYSE:TT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 500 shares of the company’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new stake in shares of Trane Technologies in the 1st quarter valued at $877,468,000. Wellington Management Group LLP raised its holdings in Trane Technologies by 245.1% during the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock worth $722,493,000 after purchasing an additional 1,522,933 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after purchasing an additional 1,408,421 shares during the period. Nordea Investment Management AB boosted its stake in shares of 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 purchasing an additional 1,157,405 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Trane Technologies by 95.1% during the first quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock worth $291,727,000 after buying an additional 431,495 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $440.00, for a total transaction of $264,000.00. Following the completion of the transaction, the chief accounting officer owned 7,148 shares in the company, valued at approximately $3,145,120. This represents a 7.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 123,713 shares in the company, valued at $50,722,330. This represents a 15.39% decrease in their position. The SEC filing for this sale provides additional information. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Price Performance

Shares of TT opened at $434.01 on Friday. The stock has a 50 day simple moving average of $418.82 and a 200 day simple moving average of $422.66. Trane Technologies plc has a 52-week low of $298.15 and a 52-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 firm has a market capitalization of $96.24 billion, a PE ratio of 34.42, a P/E/G ratio of 2.66 and a beta of 1.16.

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

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s payout ratio is currently 28.92%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays lifted their target price on shares of Trane Technologies from $485.00 to $495.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Citigroup increased their target price on Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Robert W. Baird boosted their target price on Trane Technologies from $396.00 to $450.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Royal Bank Of Canada upped their price target on Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $466.50.

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.