Trane Technologies plc $TT Shares Sold by Progressive Investment Management Corp

Progressive Investment Management Corp lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 0.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,716 shares of the company’s stock after selling 126 shares during the quarter. Trane Technologies makes up approximately 1.5% of Progressive Investment Management Corp’s holdings, making the stock its 21st largest position. Progressive Investment Management Corp’s holdings in Trane Technologies were worth $6,000,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ameriflex Group Inc. bought a new position in shares of Trane Technologies in the second quarter worth $28,000. Saudi Central Bank bought a new position in shares of Trane Technologies in the first quarter worth $30,000. Bogart Wealth LLC grew its stake in shares of Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares in the last quarter. Tradewinds Capital Management LLC grew its stake in shares of Trane Technologies by 46.2% in the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company’s stock worth $32,000 after purchasing an additional 30 shares in the last quarter. Finally, Pinnacle Bancorp Inc. grew its stake in shares of Trane Technologies by 120.0% in the first quarter. Pinnacle Bancorp Inc. now owns 110 shares of the company’s stock worth $37,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on TT. Robert W. Baird increased their price target on Trane Technologies from $396.00 to $450.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and upped their price objective for the company from $415.00 to $460.00 in a report on Thursday, July 31st. Morgan Stanley upped their price objective on Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. UBS Group upped their price objective on Trane Technologies from $500.00 to $544.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Finally, Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $464.29.

Trane Technologies Trading Up 0.1%

Shares of NYSE TT opened at $416.31 on Friday. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The company has a market cap of $92.63 billion, a price-to-earnings ratio of 33.01, a P/E/G ratio of 2.59 and a beta of 1.12. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $417.59 and a 200-day simple moving average of $411.32.

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

Trane Technologies Dividend Announcement

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

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction dated 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

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.