Phoenix Financial Ltd. Purchases 1,201 Shares of Trane Technologies plc $TT

Phoenix Financial Ltd. increased its position in Trane Technologies plc (NYSE:TT) by 8.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,678 shares of the company’s stock after buying an additional 1,201 shares during the period. Phoenix Financial Ltd.’s holdings in Trane Technologies were worth $6,858,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TT. Nuveen LLC bought a new position in Trane Technologies in the 1st quarter worth $877,468,000. Wellington Management Group LLP lifted its stake in 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 purchasing an additional 1,522,933 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in 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 purchasing an additional 1,408,421 shares in the last quarter. Nordea Investment Management AB lifted its stake in 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 purchasing an additional 1,157,405 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in 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 purchasing an additional 431,495 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Citigroup decreased their price target on shares of Trane Technologies from $499.00 to $494.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Northcoast Research cut shares of Trane Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, August 1st. Finally, HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and boosted their price target for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus target price of $464.29.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 22,497 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were 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 approximately $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Trane Technologies Stock Up 0.6%

Shares of NYSE TT opened at $418.20 on Tuesday. The firm’s 50-day moving average price is $417.39 and its 200-day moving average price is $413.02. 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 stock has a market capitalization of $93.05 billion, a price-to-earnings ratio of 33.16, a P/E/G ratio of 2.59 and a beta of 1.12. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18.

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

Trane Technologies Announces Dividend

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