Clifford Swan Investment Counsel LLC Trims Stock Holdings in Trane Technologies plc $TT

Clifford Swan Investment Counsel LLC lowered its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,224 shares of the company’s stock after selling 74 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Trane Technologies were worth $4,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TT. Vanguard Group Inc. lifted its holdings in Trane Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company’s stock worth $6,555,377,000 after buying an additional 221,206 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Trane Technologies by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after buying an additional 1,408,421 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Trane Technologies by 7.2% during the first quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock worth $1,208,044,000 after purchasing an additional 241,910 shares during the last quarter. Nuveen LLC purchased a new position in shares of Trane Technologies during the 1st quarter valued at about $877,468,000. Finally, Northern Trust Corp boosted its stake in shares of Trane Technologies by 0.7% in the first quarter. Northern Trust Corp now owns 2,584,819 shares of the company’s stock worth $870,877,000 after buying an additional 17,292 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 22,497 shares of the 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 completion of the transaction, the chief executive officer directly owned 123,713 shares in the company, valued at approximately $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and boosted their price target for the company from $415.00 to $460.00 in a report on Thursday, July 31st. Royal Bank Of Canada increased their price target on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a “sector perform” rating in a report on Thursday, July 31st. Citigroup cut their price objective on shares of Trane Technologies from $499.00 to $494.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Barclays cut their price objective on Trane Technologies from $495.00 to $485.00 and set an “overweight” rating for the company in a research report on Tuesday, September 16th. Finally, Robert W. Baird increased their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $464.29.

Trane Technologies Stock Down 3.8%

TT stock opened at $408.20 on Thursday. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. 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 company has a market cap of $90.83 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 2.64 and a beta of 1.12. The firm has a 50-day moving average of $416.57 and a two-hundred day moving average of $413.06.

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

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be given a dividend of $0.94 per share. 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%.

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.