Trane Technologies plc $TT Shares Acquired by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC grew its holdings in Trane Technologies plc (NYSE:TT) by 0.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,647 shares of the company’s stock after purchasing an additional 183 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Trane Technologies worth $51,897,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TT. Ameriflex Group Inc. acquired a new stake in Trane Technologies during the second quarter worth approximately $28,000. Saudi Central Bank acquired a new stake in Trane Technologies during the first quarter worth approximately $30,000. Bogart Wealth LLC boosted its position in Trane Technologies by 97.9% during the first quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the last quarter. Tradewinds Capital Management LLC boosted its position in Trane Technologies by 46.2% during the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company’s stock worth $32,000 after acquiring an additional 30 shares during the last quarter. Finally, Pinnacle Bancorp Inc. boosted its position in Trane Technologies by 120.0% during the first quarter. Pinnacle Bancorp Inc. now owns 110 shares of the company’s stock worth $37,000 after acquiring an additional 60 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the transaction, the chief executive officer owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $416.31 on Friday. The company’s fifty day simple moving average is $417.59 and its 200-day simple moving average is $411.32. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company has a market cap of $92.63 billion, a PE ratio of 33.01, a P/E/G ratio of 2.59 and a beta of 1.12.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter last year, the firm posted $3.30 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio (DPR) is currently 29.82%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TT shares. UBS Group raised their target price on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Wells Fargo & Company raised their target price on shares of Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research report on Monday, October 6th. Morgan Stanley increased their price target 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. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and increased their price target for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Finally, Northcoast Research downgraded shares of Trane Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $464.29.

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.