Trane Technologies plc $TT Stock Sold by Provident Investment Management Inc.

Provident Investment Management Inc. reduced its holdings in Trane Technologies plc (NYSE:TT) by 7.1% in the third quarter, HoldingsChannel reports. The firm owned 59,219 shares of the company’s stock after selling 4,513 shares during the period. Trane Technologies makes up about 2.7% of Provident Investment Management Inc.’s investment portfolio, making the stock its 18th biggest holding. Provident Investment Management Inc.’s holdings in Trane Technologies were worth $26,766,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in TT. Amundi lifted its stake in Trane Technologies by 47.8% in the first quarter. Amundi now owns 2,174,396 shares of the company’s stock valued at $906,158,000 after buying an additional 703,018 shares during the period. Janus Henderson Group PLC grew its position in shares of Trane Technologies by 10.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,878,018 shares of the company’s stock worth $782,707,000 after buying an additional 180,537 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Trane Technologies by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,035,241 shares of the company’s stock worth $431,347,000 after buying an additional 32,286 shares during the period. Ninety One UK Ltd grew its position in shares of Trane Technologies by 0.4% during the 3rd quarter. Ninety One UK Ltd now owns 926,668 shares of the company’s stock worth $418,835,000 after buying an additional 3,624 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Trane Technologies by 51.9% in the 1st quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock valued at $286,172,000 after acquiring an additional 234,666 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Up 0.1%

Shares of NYSE:TT opened at $445.43 on Monday. The business’s 50 day simple moving average is $452.34 and its two-hundred day simple moving average is $464.53. The firm has a market cap of $98.00 billion, a P/E ratio of 33.74, a PEG ratio of 2.08 and a beta of 1.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.76 and a current ratio of 1.07. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $505.87.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, July 30th. The company reported $4.31 EPS for the quarter, beating analysts’ consensus estimates of $4.27 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Trane Technologies had a return on equity of 35.72% and a net margin of 13.28%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.88 earnings per share. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. As a group, research analysts forecast that Trane Technologies plc will post 15.32 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 4th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, December 4th. Trane Technologies’s dividend payout ratio (DPR) is currently 31.82%.

Insider Activity

In related news, CEO David Regnery sold 48,091 shares of Trane Technologies stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total value of $23,083,680.00. Following the completion of the sale, the chief executive officer owned 96,951 shares of the company’s stock, valued at approximately $46,536,480. This trade represents a 33.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Trane Technologies from $515.00 to $499.00 and set a “hold” rating on the stock in a research report on Wednesday, September 30th. Wall Street Zen cut shares of Trane Technologies from a “buy” rating to a “hold” rating in a report on Sunday, August 30th. Sanford C. Bernstein raised their price target on shares of Trane Technologies from $555.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. JPMorgan Chase & Co. started coverage on shares of Trane Technologies in a research note on Friday, October 9th. They issued an “overweight” rating and a $550.00 price target for the company. Finally, The Goldman Sachs Group upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $548.00 to $565.00 in a report on Wednesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $539.42.

Trane Technologies Company Profile

Trane Technologies plc is a global climate technology company that develops solutions for heating, ventilation, air conditioning, refrigeration and building management. Its products and services are designed to improve indoor comfort, energy efficiency and the sustainability of commercial, industrial, residential and institutional buildings.

The company operates through well-known brands including Trane, Thermo King and Frigoblock. Trane provides HVAC equipment, building controls, digital solutions, maintenance and energy services, while Thermo King and Frigoblock offer temperature-control systems for refrigerated transportation.