Thrivent Financial for Lutherans Buys 12,892 Shares of Trane Technologies plc $TT

Thrivent Financial for Lutherans grew its stake in Trane Technologies plc (NYSE:TT) by 31.3% during the 4th quarter, HoldingsChannel reports. The fund owned 54,039 shares of the company’s stock after purchasing an additional 12,892 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Trane Technologies were worth $21,071,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Pinnacle Associates Ltd. grew its position in Trane Technologies by 0.5% during the 4th quarter. Pinnacle Associates Ltd. now owns 12,008 shares of the company’s stock valued at $4,673,000 after purchasing an additional 65 shares during the last quarter. Allworth Financial LP increased its position in shares of Trane Technologies by 301.7% during the fourth quarter. Allworth Financial LP now owns 18,467 shares of the company’s stock valued at $7,188,000 after acquiring an additional 13,870 shares in the last quarter. Freemont Management S.A. increased its position in shares of Trane Technologies by 200.0% during the fourth quarter. Freemont Management S.A. now owns 1,800 shares of the company’s stock valued at $701,000 after acquiring an additional 1,200 shares in the last quarter. Rayburn West Financial Services LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $623,000. Finally, Navalign LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $58,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TT shares. KeyCorp boosted their price target on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research note on Friday, January 30th. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Finally, Evercore began coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $506.56.

Trane Technologies Trading Up 0.0%

Shares of NYSE:TT opened at $466.65 on Monday. The stock has a 50 day moving average of $450.17 and a 200 day moving average of $428.86. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The company has a market cap of $103.15 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 2.15 and a beta of 1.25. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.45 earnings per share. Trane Technologies has set its FY 2026 guidance at 14.750-14.950 EPS. As a group, equities research analysts expect that Trane Technologies plc will post 14.9 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s payout ratio is currently 32.48%.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the transaction, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 53,654 shares of company stock valued at $23,269,523 in the last 90 days. 0.14% of the stock is currently owned by company insiders.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.