Northwest & Ethical Investments L.P. Sells 5,210 Shares of Trane Technologies plc $TT

Northwest & Ethical Investments L.P. cut its stake in Trane Technologies plc (NYSE:TT) by 13.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,699 shares of the company’s stock after selling 5,210 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Trane Technologies were worth $14,303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in Trane Technologies during the 1st quarter valued at approximately $877,468,000. Wellington Management Group LLP raised its stake 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 valued at $722,493,000 after buying an additional 1,522,933 shares during the last quarter. JPMorgan Chase & Co. grew its stake 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 purchasing an additional 1,408,421 shares during the period. Nordea Investment Management AB grew its position in Trane Technologies by 89.1% during the second quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock valued at $1,066,845,000 after buying an additional 1,157,405 shares during the period. Finally, ABN AMRO Bank N.V. purchased a new position in Trane Technologies during the second quarter valued at $291,206,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TT. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. UBS Group lifted their price target on shares of Trane Technologies from $500.00 to $544.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Northcoast Research cut Trane Technologies from a “buy” rating to a “neutral” rating in a report on Friday, August 1st. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $490.00 to $550.00 in a report on Thursday, November 13th. Finally, Citigroup lifted their price objective on shares of Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $470.07.

Insider Buying and Selling at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 600 shares of the firm’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 transaction, the chief accounting officer directly owned 7,148 shares of the company’s stock, 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 SEC, which is available at this hyperlink. Also, CEO David S. Regnery sold 22,497 shares of the stock in a transaction on 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 sale, the chief executive officer owned 123,713 shares in the company, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $418.83 on Wednesday. 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 company has a market capitalization of $92.87 billion, a PE ratio of 33.21, a P/E/G ratio of 2.66 and a beta of 1.16. The company has a 50-day simple moving average of $419.92 and a two-hundred day simple moving average of $425.93. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18.

Trane Technologies (NYSE:TT) last issued 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. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.80 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. Trane Technologies’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.37 EPS. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio is 28.92%.

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.