Massachusetts Financial Services Co. MA Has $948.65 Million Stock Holdings in Trane Technologies plc $TT

Massachusetts Financial Services Co. MA grew its stake in shares of Trane Technologies plc (NYSE:TT) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,168,790 shares of the company’s stock after purchasing an additional 92,029 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.97% of Trane Technologies worth $948,650,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in Trane Technologies in the first quarter valued at approximately $877,468,000. Wellington Management Group LLP grew 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 purchasing an additional 1,522,933 shares during the period. JPMorgan Chase & Co. increased its stake in Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after purchasing an additional 1,408,421 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Trane Technologies by 89.1% in the second 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 in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Trane Technologies by 95.1% during the first quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock valued at $291,727,000 after buying an additional 431,495 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

TT opened at $418.60 on Friday. The firm has a market cap of $92.82 billion, a P/E ratio of 33.20, a PEG ratio of 2.66 and a beta of 1.16. 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 plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The firm has a 50-day moving average of $419.79 and a 200 day moving average of $424.80.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $5.80 billion. During the same period in the previous year, the company earned $3.37 earnings per share. The company’s quarterly 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, research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be given a $0.94 dividend. 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 dividend payout ratio (DPR) is currently 28.92%.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction dated 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 sale, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at approximately $3,145,120. This trade represents a 7.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup raised their price target on shares of Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Wells Fargo & Company increased their price objective on Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research note on Monday, October 6th. Morgan Stanley lifted their target price on Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Barclays increased their price target on Trane Technologies from $485.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Finally, Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $490.00 to $550.00 in a report on Thursday. Seven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently 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.