Kane Investment Management Inc. Sells 229 Shares of Trane Technologies plc $TT

Kane Investment Management Inc. lowered its position in shares of Trane Technologies plc (NYSE:TT) by 4.7% in the second quarter, HoldingsChannel reports. The fund owned 4,674 shares of the company’s stock after selling 229 shares during the period. Trane Technologies accounts for approximately 1.1% of Kane Investment Management Inc.’s investment portfolio, making the stock its 18th largest holding. Kane Investment Management Inc.’s holdings in Trane Technologies were worth $2,044,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new stake in shares of Trane Technologies during the 2nd quarter worth approximately $28,000. Hantz Financial Services Inc. lifted its stake in shares of Trane Technologies by 1,016.7% in the 2nd 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 period. Saudi Central Bank acquired a new stake in shares of Trane Technologies during the first quarter worth $30,000. Dagco Inc. bought a new stake in Trane Technologies in the first quarter valued at about $37,000. Finally, NewSquare Capital LLC boosted its holdings in Trane Technologies by 94.1% during the second quarter. NewSquare Capital LLC now owns 132 shares of the company’s stock worth $58,000 after buying an additional 64 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TT. Citigroup boosted their price objective on shares of Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a report on Friday, October 31st. JPMorgan Chase & Co. increased their price target on Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $490.00 to $550.00 in a report on Thursday. Barclays increased their target price on Trane Technologies from $485.00 to $495.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and lifted their price target for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus target price of $472.07.

Insider Activity

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the chief executive officer owned 123,713 shares in the company, valued at approximately $50,722,330. The trade was a 15.39% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is owned by insiders.

Trane Technologies Trading Up 0.9%

Shares of NYSE:TT opened at $418.60 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The company’s 50-day moving average price is $419.79 and its two-hundred day moving average price is $424.80. The stock has a market capitalization of $92.82 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18.

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

Trane Technologies Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, December 5th. This represents a $3.76 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is presently 28.92%.

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.