Huntington National Bank Boosts Stake in Trane Technologies plc $TT

Huntington National Bank increased its position in Trane Technologies plc (NYSE:TT) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,082 shares of the company’s stock after buying an additional 262 shares during the period. Huntington National Bank’s holdings in Trane Technologies were worth $2,660,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TT. Brighton Jones LLC lifted its position in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after buying an additional 2,323 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of Trane Technologies by 118.4% in the first quarter. Mutual Advisors LLC now owns 1,151 shares of the company’s stock worth $401,000 after buying an additional 624 shares in the last quarter. Strategic Blueprint LLC lifted its position in shares of Trane Technologies by 11.1% in the first quarter. Strategic Blueprint LLC now owns 620 shares of the company’s stock worth $209,000 after buying an additional 62 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Trane Technologies by 12.2% in the first quarter. Envestnet Asset Management Inc. now owns 334,751 shares of the company’s stock worth $112,784,000 after buying an additional 36,490 shares in the last quarter. Finally, Personal CFO Solutions LLC lifted its position in shares of Trane Technologies by 16.7% in the first quarter. Personal CFO Solutions LLC now owns 1,345 shares of the company’s stock worth $453,000 after buying an additional 192 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 0.8%

TT opened at $436.34 on Thursday. The stock has a market cap of $97.09 billion, a price-to-earnings ratio of 34.60, a P/E/G ratio of 2.66 and a beta of 1.12. The stock’s 50 day moving average price is $418.22 and its 200-day moving average price is $421.16. 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 quick ratio of 0.76 and a current ratio of 1.10.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.80 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors 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 yield of 0.9%. Trane Technologies’s dividend payout ratio is 28.92%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TT shares. UBS Group boosted their price objective on Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Wells Fargo & Company boosted their price objective on Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research note on Monday, October 6th. Royal Bank Of Canada boosted their price objective on Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a research note on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. Finally, Barclays boosted their price objective on Trane Technologies from $485.00 to $495.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. 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, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $466.50.

Insider Activity at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total value of $264,000.00. Following the transaction, the chief accounting officer owned 7,148 shares of the company’s stock, valued at $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 22,497 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total value of $9,223,770.00. Following the sale, the chief executive officer owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This represents a 15.39% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is owned by corporate insiders.

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.