Impax Asset Management Group plc Decreases Stake in Trane Technologies plc $TT

Impax Asset Management Group plc cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 11.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 272,379 shares of the company’s stock after selling 35,674 shares during the period. Impax Asset Management Group plc’s holdings in Trane Technologies were worth $119,141,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Ameriflex Group Inc. purchased a new stake in shares of Trane Technologies during the 2nd quarter valued at about $28,000. Hantz Financial Services Inc. raised its holdings in shares of Trane Technologies by 1,016.7% during the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after purchasing an additional 61 shares during the last quarter. Saudi Central Bank bought a new position in Trane Technologies during the first quarter valued at approximately $30,000. Bogart Wealth LLC boosted its holdings in Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the last quarter. Finally, Dagco Inc. bought a new stake in Trane Technologies in the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $422.11 on Thursday. The company has a market capitalization of $93.60 billion, a P/E ratio of 33.47, a P/E/G ratio of 2.66 and a beta of 1.16. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The firm’s 50 day simple moving average is $419.67 and its two-hundred day simple moving average is $424.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, October 30th. The company reported $3.88 EPS for the quarter, beating 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 firm had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period last year, the firm earned $3.37 EPS. The company’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. Research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, December 5th. Trane Technologies’s payout ratio is presently 28.92%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the company’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 value of $9,223,770.00. Following the completion of the transaction, the chief executive officer directly owned 123,713 shares in the company, valued at $50,722,330. This represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Elizabeth A. Elwell sold 600 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the transaction, the chief accounting officer owned 7,148 shares of the company’s stock, valued at $3,145,120. The trade was a 7.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of research reports. Citigroup raised their price target on Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and raised their target price for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. Robert W. Baird upped their price target on shares of Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Morgan Stanley increased their price objective 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. Finally, Wells Fargo & Company upped their target price on shares of Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a report on Monday, October 6th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $472.07.

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.