Penserra Capital Management LLC Grows Holdings in Trane Technologies plc $TT

Penserra Capital Management LLC grew its position in Trane Technologies plc (NYSE:TT) by 39.9% in the second quarter, HoldingsChannel reports. The fund owned 1,542 shares of the company’s stock after acquiring an additional 440 shares during the quarter. Penserra Capital Management LLC’s holdings in Trane Technologies were worth $673,000 at the end of the most recent reporting period.

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

Trane Technologies Trading Down 2.8%

TT opened at $421.20 on Wednesday. The firm has a market capitalization of $93.40 billion, a price-to-earnings ratio of 33.40, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16. The company’s 50 day simple moving average is $419.39 and its two-hundred day simple moving average is $424.42. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76.

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

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders 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 dividend yield of 0.9%. Trane Technologies’s payout ratio is presently 28.92%.

Insider Activity

In related news, CAO Elizabeth A. Elwell sold 600 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were 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 of the company’s stock, valued at approximately $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David S. Regnery sold 22,497 shares of Trane Technologies 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 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. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their price objective on shares of Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a research report on Friday, October 31st. UBS Group upped their price target on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Citigroup boosted their price objective on Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and raised their target price for the company from $415.00 to $460.00 in a research report on Thursday, July 31st. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.