Equitable Trust Co. Invests $252,000 in Trane Technologies plc $TT

Equitable Trust Co. acquired a new position in Trane Technologies plc (NYSE:TT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 575 shares of the company’s stock, valued at approximately $252,000.

Other institutional investors have also made changes to their positions in the company. CWA Asset Management Group LLC increased its stake in shares of Trane Technologies by 19.2% in the first quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company’s stock worth $382,000 after purchasing an additional 183 shares during the period. OMNI 360 Wealth Inc. bought a new position in Trane Technologies during the second quarter valued at about $345,000. Jones Financial Companies Lllp increased its stake in Trane Technologies by 350.3% during the first quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company’s stock valued at $7,140,000 after acquiring an additional 16,485 shares during the period. BROOKFIELD Corp ON increased its stake in Trane Technologies by 11.0% during the first quarter. BROOKFIELD Corp ON now owns 8,227 shares of the company’s stock valued at $2,772,000 after acquiring an additional 812 shares during the period. Finally, Nippon Life Global Investors Americas Inc. increased its stake in Trane Technologies by 17.5% during the first quarter. Nippon Life Global Investors Americas Inc. now owns 3,090 shares of the company’s stock valued at $1,041,000 after acquiring an additional 460 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Northcoast Research lowered Trane Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, August 1st. Citigroup lowered their price target on Trane Technologies from $499.00 to $494.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. Wells Fargo & Company boosted their price target on Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a research note on Monday, October 6th. Royal Bank Of Canada boosted their price target on Trane Technologies from $463.00 to $467.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Finally, The Goldman Sachs Group lifted their price objective on Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $460.00.

Trane Technologies Stock Down 0.2%

NYSE TT opened at $423.27 on Thursday. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average is $418.11 and its two-hundred day moving average is $410.26. The company has a market capitalization of $94.18 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 2.64 and a beta of 1.12. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18.

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

Trane Technologies Dividend Announcement

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

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at $50,722,330. The trade was a 15.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by insiders.

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.