Trane Technologies plc $TT Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 6.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,562,150 shares of the company’s stock after selling 178,978 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.15% of Trane Technologies worth $1,120,710,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ethic Inc. increased its holdings in shares of Trane Technologies by 6.6% in the 2nd quarter. Ethic Inc. now owns 26,836 shares of the company’s stock valued at $11,601,000 after acquiring an additional 1,672 shares during the period. OMNI 360 Wealth Inc. acquired a new position in Trane Technologies in the 2nd quarter valued at $345,000. Triton Financial Group Inc acquired a new position in Trane Technologies in the 2nd quarter valued at $1,273,000. Jones Financial Companies Lllp increased its stake in Trane Technologies by 350.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company’s stock valued at $7,140,000 after buying an additional 16,485 shares during the period. Finally, BROOKFIELD Corp ON increased its stake in Trane Technologies by 11.0% in the 1st quarter. BROOKFIELD Corp ON now owns 8,227 shares of the company’s stock valued at $2,772,000 after buying an additional 812 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the company’s stock in a transaction dated 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 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 can be accessed through this hyperlink. Also, CAO Elizabeth A. Elwell sold 600 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $440.00, for a total transaction of $264,000.00. Following the completion of the sale, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at $3,145,120. The trade was a 7.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Stock Up 0.6%

Trane Technologies stock opened at $448.95 on Monday. The company has a 50-day simple moving average of $417.33 and a 200-day simple moving average of $419.55. The firm has a market capitalization of $99.90 billion, a P/E ratio of 35.60, a P/E/G ratio of 2.66 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.80 by $0.08. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.80 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors 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 annualized dividend and a yield of 0.8%. Trane Technologies’s dividend payout ratio is presently 28.92%.

Analyst Ratings Changes

TT has been the topic of several recent research reports. UBS Group boosted their price objective on shares of Trane Technologies from $500.00 to $544.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Morgan Stanley boosted their price objective on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and an average price target of $466.50.

Trane Technologies 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.