iA Global Asset Management Inc. Sells 3,918 Shares of Trane Technologies plc $TT

iA Global Asset Management Inc. reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 11.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,003 shares of the company’s stock after selling 3,918 shares during the quarter. iA Global Asset Management Inc.’s holdings in Trane Technologies were worth $13,561,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. bought a new position in shares of Trane Technologies during the second quarter valued at about $28,000. Hantz Financial Services Inc. grew its stake in shares of Trane Technologies by 1,016.7% during the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after buying an additional 61 shares during the last quarter. Saudi Central Bank bought a new position in shares of Trane Technologies during the first quarter valued at about $30,000. Bogart Wealth LLC grew its stake in shares of Trane Technologies by 97.9% during the first quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock valued at $31,000 after buying an additional 46 shares during the last quarter. Finally, Olde Wealth Management LLC bought a new stake in shares of Trane Technologies in the first quarter worth about $37,000. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total transaction of $264,000.00. Following the completion of the transaction, the chief accounting officer directly owned 7,148 shares in the company, valued at approximately $3,145,120. This trade represents a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction that occurred on 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 owned 123,713 shares of the company’s stock, valued at $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on TT. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and raised their target price for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. JPMorgan Chase & Co. raised their target price on Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada raised their target price on Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a research note on Friday. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Finally, UBS Group raised their target price on Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Six 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, the company currently has a consensus rating of “Hold” and a consensus price target of $466.50.

Trane Technologies Stock Performance

Shares of TT opened at $448.95 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. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. The company has a 50-day simple moving average of $417.33 and a two-hundred day simple moving average of $418.93. The firm has a market capitalization of $99.90 billion, a PE ratio of 35.60, a price-to-earnings-growth ratio of 2.66 and a beta of 1.12.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.80 by $0.08. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the business posted $3.37 earnings per share. Trane Technologies’s quarterly 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, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, December 5th. This represents a $3.76 annualized dividend and a yield of 0.8%. Trane Technologies’s dividend payout ratio (DPR) is 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.