Purkiss Capital Advisors LLC Grows Stock Position in Trane Technologies plc $TT

Purkiss Capital Advisors LLC boosted its stake in Trane Technologies plc (NYSE:TT) by 4.2% in the second quarter, Holdings Channel reports. The fund owned 688 shares of the company’s stock after buying an additional 28 shares during the quarter. Purkiss Capital Advisors LLC’s holdings in Trane Technologies were worth $301,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TT. Nuveen LLC purchased a new position in shares of Trane Technologies in the first quarter valued at $877,468,000. Wellington Management Group LLP boosted its position 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 valued at $722,493,000 after buying an additional 1,522,933 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Trane Technologies by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after buying an additional 1,408,421 shares during the last quarter. Nordea Investment Management AB boosted its position 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 valued at $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 Trane Technologies by 95.1% in the first quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock valued at $291,727,000 after purchasing an additional 431,495 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 0.6%

Shares of NYSE TT opened at $428.57 on Tuesday. The company has a market cap of $95.36 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 2.65 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. 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’s 50 day simple moving average is $416.35 and its 200 day simple moving average is $416.32.

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

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be issued 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 payout ratio is 29.82%.

Analyst Ratings Changes

A number of brokerages recently commented on TT. Wells Fargo & Company increased their price target on Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. Citigroup reduced their target price on Trane Technologies from $499.00 to $494.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Northcoast Research downgraded shares of Trane Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, August 1st. Finally, UBS Group increased their price objective on shares of Trane Technologies from $500.00 to $544.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $464.29.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of Trane Technologies 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 sale, the chief executive officer owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

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.