ProShare Advisors LLC Increases Position in Trane Technologies plc $TT

ProShare Advisors LLC grew its holdings in shares of Trane Technologies plc (NYSE:TT) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,387 shares of the company’s stock after buying an additional 3,574 shares during the quarter. ProShare Advisors LLC’s holdings in Trane Technologies were worth $17,665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after acquiring an additional 1,433,563 shares during the period. Corient Private Wealth LLC increased its stake in Trane Technologies by 135.4% in the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock worth $321,757,000 after purchasing an additional 423,090 shares during the period. SG Americas Securities LLC lifted its position in shares of Trane Technologies by 13,460.8% during the fourth quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock worth $164,828,000 after purchasing an additional 420,381 shares during the last quarter. Credit Agricole S A bought a new stake in shares of Trane Technologies during the third quarter worth $118,129,000. Finally, Phoenix Financial Ltd. boosted its stake in shares of Trane Technologies by 1,958.5% during the fourth quarter. Phoenix Financial Ltd. now owns 291,665 shares of the company’s stock valued at $113,515,000 after purchasing an additional 277,496 shares during the period. 82.97% of the stock is owned by institutional investors.

Trane Technologies Price Performance

Shares of TT stock opened at $450.94 on Thursday. The stock’s 50-day moving average is $451.61 and its 200 day moving average is $429.27. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $503.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The company has a market cap of $99.68 billion, a P/E ratio of 34.88, a PEG ratio of 2.06 and a beta of 1.25.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same period in the prior year, the firm posted $2.45 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 14.750-14.950 EPS. Research analysts predict that Trane Technologies plc will post 14.9 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio is presently 32.48%.

Insider Activity

In other news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elizabeth A. Elwell sold 635 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the sale, the chief accounting officer directly owned 7,100 shares of the company’s stock, valued at $3,001,170. The trade was a 8.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 53,654 shares of company stock valued at $23,269,523 in the last ninety days. 0.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

TT has been the topic of several recent analyst reports. Barclays raised their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Evercore assumed coverage on shares of Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 price target for the company. Finally, Royal Bank Of Canada boosted their price target on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $506.56.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.