Moors & Cabot Inc. Buys 1,319 Shares of Trane Technologies plc $TT

Moors & Cabot Inc. raised its stake in Trane Technologies plc (NYSE:TT) by 37.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,863 shares of the company’s stock after acquiring an additional 1,319 shares during the period. Moors & Cabot Inc.’s holdings in Trane Technologies were worth $2,127,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TT. Brighton Jones LLC lifted its position in Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after purchasing an additional 2,323 shares during the last quarter. Mutual Advisors LLC increased its stake in shares of Trane Technologies by 118.4% during the first quarter. Mutual Advisors LLC now owns 1,151 shares of the company’s stock valued at $401,000 after buying an additional 624 shares during the period. Strategic Blueprint LLC raised its holdings in shares of Trane Technologies by 11.1% during the first quarter. Strategic Blueprint LLC now owns 620 shares of the company’s stock valued at $209,000 after acquiring an additional 62 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in 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 acquiring an additional 36,490 shares during the period. Finally, Personal CFO Solutions LLC boosted its holdings in Trane Technologies by 16.7% in the first quarter. Personal CFO Solutions LLC now owns 1,345 shares of the company’s stock valued at $453,000 after acquiring an additional 192 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 22,497 shares of the 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 directly owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 7,148 shares in the company, valued at approximately $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Barclays boosted their price objective on shares of Trane Technologies from $485.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Royal Bank Of Canada boosted their price objective on shares of Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a research report on Friday, October 31st. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Finally, Citigroup boosted their price objective on shares of Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $466.50.

Trane Technologies Price Performance

Shares of TT stock 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 PEG ratio of 2.66 and a beta of 1.12. The business’s fifty day moving average is $418.22 and its 200 day moving average is $421.16. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.08. The company 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 firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business 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 is currently 28.92%.

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.