McKinley Carter Wealth Services Inc. Acquires Shares of 550 Trane Technologies plc $TT

McKinley Carter Wealth Services Inc. acquired a new stake in Trane Technologies plc (NYSE:TT) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 550 shares of the company’s stock, valued at approximately $241,000.

Several other large investors have also recently added to or reduced their stakes in TT. Nuveen LLC acquired a new position in shares of Trane Technologies during the 1st quarter worth $877,468,000. Wellington Management Group LLP increased its stake in shares of Trane Technologies by 245.1% during the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock worth $722,493,000 after purchasing an additional 1,522,933 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock worth $5,297,235,000 after purchasing an additional 1,408,421 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Trane Technologies by 95.1% during the 1st quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock worth $291,727,000 after purchasing an additional 431,495 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in shares of Trane Technologies by 27.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company’s stock worth $645,343,000 after purchasing an additional 410,734 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TT shares. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and increased their price target for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday. Finally, Robert W. Baird raised their target price on shares of Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $457.73.

Insiders Place Their Bets

In other Trane Technologies news, 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 value of $9,223,770.00. Following the completion of the sale, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by company insiders.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $414.09 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The firm has a fifty day moving average price of $418.60 and a two-hundred day moving average price of $408.64. The company has a market cap of $92.14 billion, a PE ratio of 32.84, a price-to-earnings-growth ratio of 2.60 and a beta of 1.12.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the firm earned $3.30 EPS. The business’s revenue was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio is 29.82%.

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.