Trane Technologies plc $TT Shares Sold by Provident Investment Management Inc.

Provident Investment Management Inc. reduced its holdings in Trane Technologies plc (NYSE:TT) by 7.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 59,219 shares of the company’s stock after selling 4,513 shares during the quarter. Trane Technologies makes up about 2.7% of Provident Investment Management Inc.’s portfolio, making the stock its 18th largest holding. Provident Investment Management Inc.’s holdings in Trane Technologies were worth $26,766,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Amundi lifted its holdings in shares of Trane Technologies by 47.8% during the first quarter. Amundi now owns 2,174,396 shares of the company’s stock worth $906,158,000 after purchasing an additional 703,018 shares during the period. First Trust Advisors LP grew its stake in shares of Trane Technologies by 536.6% in the first quarter. First Trust Advisors LP now owns 532,138 shares of the company’s stock worth $221,763,000 after purchasing an additional 448,547 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Trane Technologies by 215.9% in the first quarter. Hsbc Holdings PLC now owns 653,423 shares of the company’s stock valued at $271,950,000 after purchasing an additional 446,598 shares during the period. Sei Investments Co. increased its holdings in Trane Technologies by 261.5% in the first quarter. Sei Investments Co. now owns 357,337 shares of the company’s stock valued at $148,915,000 after purchasing an additional 258,478 shares during the period. Finally, California Public Employees Retirement System increased its holdings in Trane Technologies by 51.9% in the first quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock valued at $286,172,000 after purchasing an additional 234,666 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other Trane Technologies news, CEO David Regnery sold 48,091 shares of the company’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the sale, the chief executive officer owned 96,951 shares of the company’s stock, valued at approximately $46,536,480. This represents a 33.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Trane Technologies Trading Up 0.1%

NYSE:TT opened at $445.43 on Monday. The firm’s fifty day moving average is $452.34 and its 200-day moving average is $464.53. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.76 and a current ratio of 1.07. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $505.87. The firm has a market cap of $98.00 billion, a P/E ratio of 33.74, a P/E/G ratio of 2.08 and a beta of 1.15.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, July 30th. The company reported $4.31 earnings per share for the quarter, topping the consensus estimate of $4.27 by $0.04. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.20 billion. During the same period in the prior year, the company posted $3.88 earnings per share. Trane Technologies’s revenue for the quarter was up 10.6% compared to the same quarter last year. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. Equities analysts expect that Trane Technologies plc will post 15.32 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 4th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio is 31.82%.

Analyst Ratings Changes

TT has been the topic of several recent research reports. BNP Paribas Exane lifted their target price on Trane Technologies from $560.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Citigroup reduced their price target on Trane Technologies from $570.00 to $566.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. JPMorgan Chase & Co. assumed coverage on Trane Technologies in a research note on Friday, October 9th. They issued an “overweight” rating and a $550.00 price target for the company. Wall Street Zen downgraded Trane Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, August 30th. Finally, Weiss Ratings upgraded Trane Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and an average target price of $539.42.

Trane Technologies Profile

Trane Technologies plc is a global climate technology company that develops solutions for heating, ventilation, air conditioning, refrigeration and building management. Its products and services are designed to improve indoor comfort, energy efficiency and the sustainability of commercial, industrial, residential and institutional buildings.

The company operates through well-known brands including Trane, Thermo King and Frigoblock. Trane provides HVAC equipment, building controls, digital solutions, maintenance and energy services, while Thermo King and Frigoblock offer temperature-control systems for refrigerated transportation.