Wendell David Associates Inc. Has $254,000 Position in Trane Technologies plc $TT

Wendell David Associates Inc. lowered its holdings in Trane Technologies plc (NYSE:TT) by 5.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 581 shares of the company’s stock after selling 35 shares during the quarter. Wendell David Associates Inc.’s holdings in Trane Technologies were worth $254,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TT. Nuveen LLC bought a new stake in shares of Trane Technologies in the 1st quarter worth $877,468,000. Wellington Management Group LLP grew its stake 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 acquiring an additional 1,522,933 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Trane Technologies by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock worth $5,297,235,000 after acquiring an additional 1,408,421 shares in the last quarter. Nordea Investment Management AB boosted 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 worth $1,066,845,000 after buying an additional 1,157,405 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Trane Technologies by 95.1% in the 1st quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock worth $291,727,000 after buying an additional 431,495 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the topic of a number of research analyst reports. Barclays cut their price target on shares of Trane Technologies from $495.00 to $485.00 and set an “overweight” rating on the stock in a report on Tuesday, September 16th. Wells Fargo & Company increased their price target on shares of Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a report on Monday, October 6th. Morgan Stanley increased their price target 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. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and increased their price target for the stock from $415.00 to $460.00 in a report on Thursday, July 31st. Finally, The Goldman Sachs Group increased their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $464.29.

Insider Buying and Selling

In other news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by insiders.

Trane Technologies Stock Up 0.1%

TT stock opened at $416.31 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $417.59 and its 200 day moving average is $411.75. The stock has a market cap of $92.63 billion, a price-to-earnings ratio of 33.01, a price-to-earnings-growth ratio of 2.58 and a beta of 1.12. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same period last year, the business earned $3.30 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, December 5th. Trane Technologies’s dividend payout ratio (DPR) is presently 29.82%.

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.