Thurston Springer Miller Herd & Titak Inc. lowered its holdings in Trane Technologies plc (NYSE:TT – Free Report) by 76.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 360 shares of the company’s stock after selling 1,182 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Trane Technologies were worth $163,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in TT. First Citizens Bank & Trust Co. lifted its stake in shares of Trane Technologies by 178.4% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 6,265 shares of the company’s stock valued at $2,832,000 after purchasing an additional 4,015 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in Trane Technologies by 75.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,242 shares of the company’s stock worth $562,000 after purchasing an additional 533 shares during the period. Krilogy Financial LLC boosted its position in Trane Technologies by 29.1% during the third quarter. Krilogy Financial LLC now owns 4,468 shares of the company’s stock worth $2,134,000 after purchasing an additional 1,008 shares in the last quarter. Contravisory Investment Management Inc. grew its holdings in Trane Technologies by 5.6% in the third quarter. Contravisory Investment Management Inc. now owns 1,504 shares of the company’s stock valued at $680,000 after purchasing an additional 80 shares during the period. Finally, Lincoln Capital Corp acquired a new stake in Trane Technologies in the third quarter valued at approximately $234,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.
Insider Activity at Trane Technologies
In related news, CEO David Regnery sold 48,091 shares of the company’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total value of $23,083,680.00. Following the transaction, the chief executive officer directly owned 96,951 shares in the company, valued at approximately $46,536,480. This represents a 33.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.
Trane Technologies Trading Down 1.5%
Trane Technologies (NYSE:TT – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $4.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.27 by $0.04. The business had revenue of $6.35 billion during 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 company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the company earned $3.88 EPS. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. On average, equities research analysts expect that Trane Technologies plc will post 15.30 earnings per share for the current fiscal year.
Trane Technologies Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 4th. Trane Technologies’s payout ratio is presently 31.82%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Wells Fargo & Company assumed coverage on Trane Technologies in a research note on Friday, September 25th. They set an “overweight” rating and a $536.00 target price for the company. Evercore lifted their price target on shares of Trane Technologies from $560.00 to $565.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Wall Street Zen lowered shares of Trane Technologies from a “buy” rating to a “hold” rating in a report on Sunday, August 30th. Sanford C. Bernstein boosted their price target on shares of Trane Technologies from $555.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Finally, Weiss Ratings upgraded shares of Trane Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 10th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $538.89.
Check Out Our Latest Stock Report on Trane Technologies
About Trane Technologies
Trane Technologies plc is a global climate solutions company that develops and provides systems, equipment, services and controls for heating, ventilation, air conditioning and refrigeration. Its solutions are used in commercial buildings, industrial facilities, residential properties, data centers, transportation and other applications where temperature control and energy efficiency are important.
The company operates through two primary areas: Climate Solutions, which includes building heating and cooling systems, building controls, services and energy-management solutions; and Climate Solutions Transport, which provides refrigeration systems for trucks, trailers, shipping containers and other transportation applications.
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