Aviva PLC Trims Stock Position in Trane Technologies plc $TT

Aviva PLC decreased its position in Trane Technologies plc (NYSE:TT) by 19.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 276,389 shares of the company’s stock after selling 67,745 shares during the period. Aviva PLC’s holdings in Trane Technologies were worth $120,895,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TT. Ameriflex Group Inc. purchased a new position in Trane Technologies in the second quarter worth approximately $28,000. Hantz Financial Services Inc. grew its holdings in shares of Trane Technologies by 1,016.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after purchasing an additional 61 shares during the period. Saudi Central Bank acquired a new stake in shares of Trane Technologies during the 1st quarter worth about $30,000. Bogart Wealth LLC raised its holdings in Trane Technologies by 97.9% in the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock valued at $31,000 after buying an additional 46 shares during the period. Finally, Dagco Inc. acquired a new position in Trane Technologies in the first quarter valued at about $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.4%

TT stock opened at $434.01 on Friday. The company’s 50 day moving average price is $418.82 and its 200 day moving average price is $422.03. The firm has a market capitalization of $96.24 billion, a price-to-earnings ratio of 34.42, a PEG ratio of 2.66 and a beta of 1.16. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.80 by $0.08. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter in the previous year, the business posted $3.37 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies 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 issued 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 of this dividend is Friday, December 5th. Trane Technologies’s payout ratio is 28.92%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barclays lifted their price target on shares of Trane Technologies from $485.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and lifted their target price for the company from $415.00 to $460.00 in a report on Thursday, July 31st. JPMorgan Chase & Co. upped their price target on Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Robert W. Baird boosted their price objective on Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Finally, Royal Bank Of Canada raised their target price on Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $466.50.

Insider Activity

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the transaction, the chief accounting officer directly owned 7,148 shares in the company, valued at $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David S. Regnery sold 22,497 shares of the business’s 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 $50,722,330. This represents a 15.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.14% of the company’s stock.

About Trane Technologies

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.