Journey Strategic Wealth LLC Boosts Stock Position in Trane Technologies plc $TT

Journey Strategic Wealth LLC boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 45.2% during the second quarter, Holdings Channel.com reports. The firm owned 1,108 shares of the company’s stock after acquiring an additional 345 shares during the period. Journey Strategic Wealth LLC’s holdings in Trane Technologies were worth $485,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TT. Archer Investment Corp increased its holdings in shares of Trane Technologies by 1,608.1% in the 2nd quarter. Archer Investment Corp now owns 632 shares of the company’s stock worth $277,000 after buying an additional 595 shares during the last quarter. Mediolanum International Funds Ltd increased its stake in Trane Technologies by 11.5% during the second quarter. Mediolanum International Funds Ltd now owns 35,050 shares of the company’s stock worth $15,152,000 after acquiring an additional 3,623 shares during the last quarter. MAI Capital Management increased its stake in Trane Technologies by 116.0% during the second quarter. MAI Capital Management now owns 13,742 shares of the company’s stock worth $6,011,000 after acquiring an additional 7,379 shares during the last quarter. Marvin & Palmer Associates Inc. purchased a new stake in Trane Technologies during the second quarter valued at approximately $2,827,000. Finally, DNB Asset Management AS lifted its stake in shares of Trane Technologies by 5.4% in the 2nd quarter. DNB Asset Management AS now owns 60,741 shares of the company’s stock valued at $26,569,000 after purchasing an additional 3,103 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $440.00, for a total transaction 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 22,497 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the transaction, the chief executive officer directly owned 123,713 shares in the company, valued at $50,722,330. This trade represents a 15.39% decrease in their position. The SEC filing for this sale provides additional information. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Northcoast Research lowered shares of Trane Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, August 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, October 8th. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and raised their price objective for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Royal Bank Of Canada upped their target price on Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a research note on Friday, October 31st. Finally, Morgan Stanley raised their price target on Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Seven 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 company. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus price target of $470.07.

Trane Technologies Price Performance

Shares of TT stock opened at $410.64 on Friday. The company has a market capitalization of $91.05 billion, a P/E ratio of 32.56, a P/E/G ratio of 2.66 and a beta of 1.16. The company’s 50-day simple moving average is $419.41 and its two-hundred day simple moving average is $425.66. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. 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 results on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.80 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.Trane Technologies’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, equities analysts anticipate 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 issued 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 dividend payout ratio is currently 28.92%.

Trane Technologies 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.