Main Street Research LLC Purchases Shares of 76,349 Trane Technologies plc $TT

Main Street Research LLC purchased a new stake in shares of Trane Technologies plc (NYSE:TT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 76,349 shares of the company’s stock, valued at approximately $33,396,000. Trane Technologies makes up about 2.1% of Main Street Research LLC’s investment portfolio, making the stock its 25th biggest position.

A number of other hedge funds have also recently made changes to their positions in TT. Nuveen LLC bought a new position in shares of Trane Technologies in the first quarter worth about $877,468,000. Wellington Management Group LLP boosted its stake in shares of Trane Technologies by 245.1% in the first quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock worth $722,493,000 after acquiring an additional 1,522,933 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Trane Technologies by 9.8% in the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock worth $5,297,235,000 after acquiring an additional 1,408,421 shares during the period. Nordea Investment Management AB lifted its holdings 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 worth $1,066,845,000 after buying an additional 1,157,405 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Trane Technologies by 95.1% in the first quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock worth $291,727,000 after buying an additional 431,495 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the sale, the chief accounting officer owned 7,148 shares of the company’s stock, valued at approximately $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David S. Regnery sold 22,497 shares of the stock in a transaction 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 completion of the sale, the chief executive officer directly owned 123,713 shares in the company, valued at approximately $50,722,330. This represents a 15.39% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on TT shares. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a report on Monday, October 6th. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and boosted their target price for the stock from $415.00 to $460.00 in a report on Thursday, July 31st. Morgan Stanley boosted their target price on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. UBS Group boosted their target price on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $466.50.

Trane Technologies Trading Down 3.1%

Shares of TT stock opened at $432.62 on Wednesday. Trane Technologies plc has a 1 year low of $298.15 and a 1 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. The stock’s 50 day simple moving average is $417.99 and its two-hundred day simple moving average is $421.05. The company has a market cap of $96.27 billion, a PE ratio of 34.31, 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the prior year, the business posted $3.37 earnings per share. The company’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. Research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is currently 28.92%.

Trane Technologies Company 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.