Ironwood Investment Counsel LLC Purchases New Position in Trane Technologies plc $TT

Ironwood Investment Counsel LLC acquired a new position in Trane Technologies plc (NYSE:TT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,692 shares of the company’s stock, valued at approximately $740,000.

Several other large investors also recently bought and sold shares of TT. Nuveen LLC purchased a new stake in Trane Technologies during the first quarter valued at $877,468,000. Wellington Management Group LLP increased its holdings in shares of Trane Technologies by 245.1% in the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock worth $722,493,000 after buying an additional 1,522,933 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of 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 buying an additional 1,408,421 shares in the last quarter. Nordea Investment Management AB lifted its holdings 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 acquiring an additional 1,157,405 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Trane Technologies by 95.1% in the first quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock worth $291,727,000 after acquiring an additional 431,495 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 2.8%

Shares of Trane Technologies stock opened at $421.20 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The stock has a market cap of $93.40 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 2.66 and a beta of 1.16. The firm’s 50-day moving average is $419.39 and its two-hundred day moving average is $424.42. Trane Technologies plc has a 1 year low of $298.15 and a 1 year 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 for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter in the prior year, the company earned $3.37 EPS. The company’s revenue 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. As a group, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business 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. 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 dividend payout ratio (DPR) is 28.92%.

Insiders Place Their Bets

In related news, CAO Elizabeth A. Elwell sold 600 shares of the firm’s 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 sale, the chief accounting officer owned 7,148 shares of the company’s stock, valued at $3,145,120. This trade represents a 7.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 22,497 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the transaction, the chief executive officer owned 123,713 shares of the company’s stock, valued at $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and raised their price target for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. Citigroup boosted their price objective on shares of Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Morgan Stanley raised 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. Six research 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 MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $466.50.

Trane Technologies 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.