Ferguson Wellman Capital Management Inc. purchased a new stake in Trane Technologies plc (NYSE:TT – Free Report) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 188,467 shares of the company’s stock, valued at approximately $92,567,000. Trane Technologies makes up approximately 1.1% of Ferguson Wellman Capital Management Inc.’s portfolio, making the stock its 23rd largest position.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Trane Technologies in the 4th quarter worth $1,163,124,000. Capital International Investors purchased a new stake in shares of Trane Technologies during the fourth quarter valued at $324,639,000. Amundi lifted its holdings in shares of Trane Technologies by 47.8% during the first quarter. Amundi now owns 2,174,396 shares of the company’s stock valued at $906,158,000 after purchasing an additional 703,018 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Trane Technologies by 536.6% in the 1st quarter. First Trust Advisors LP now owns 532,138 shares of the company’s stock valued at $221,763,000 after purchasing an additional 448,547 shares during the period. Finally, Hsbc Holdings PLC increased its stake in Trane Technologies by 215.9% in the 1st quarter. Hsbc Holdings PLC now owns 653,423 shares of the company’s stock worth $271,950,000 after purchasing an additional 446,598 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.
Analysts Set New Price Targets
Several research firms have issued reports on TT. Citigroup cut their price objective on Trane Technologies from $570.00 to $566.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Weiss Ratings downgraded shares of Trane Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. KeyCorp upped their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Royal Bank Of Canada lowered their price objective on shares of Trane Technologies from $501.00 to $496.00 and set a “sector perform” rating on the stock in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Trane Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $521.50.
Insider Transactions at Trane Technologies
In other Trane Technologies news, CEO David S. Regnery sold 43,778 shares of Trane Technologies stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $475.00, for a total transaction of $20,794,550.00. Following the completion of the sale, the chief executive officer owned 96,950 shares of the company’s stock, valued at $46,051,250. This trade represents a 31.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.
Trane Technologies Stock Down 1.2%
Shares of Trane Technologies stock opened at $448.67 on Friday. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The company has a market cap of $98.72 billion, a P/E ratio of 33.99, a P/E/G ratio of 1.99 and a beta of 1.19. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average price of $472.93 and a 200 day moving average price of $461.34.
Trane Technologies (NYSE:TT – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $4.31 earnings per share for the quarter, beating analysts’ consensus estimates of $4.27 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.20 billion. Trane Technologies had a return on equity of 35.72% and a net margin of 13.28%.The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.88 EPS. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. As a group, analysts expect that Trane Technologies plc will post 15.31 EPS for the current fiscal year.
Trane Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio is currently 31.82%.
Trane Technologies Profile
Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.
In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.
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