Wedbush Securities Inc. Sells 748 Shares of Trane Technologies plc $TT

Wedbush Securities Inc. trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 11.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,656 shares of the company’s stock after selling 748 shares during the period. Wedbush Securities Inc.’s holdings in Trane Technologies were worth $2,474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TT. Ameriflex Group Inc. purchased a new stake in Trane Technologies during the second quarter worth about $28,000. Hantz Financial Services Inc. grew its position in shares of Trane Technologies by 1,016.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after acquiring an additional 61 shares during the period. Saudi Central Bank bought a new position in shares of Trane Technologies during the 1st quarter valued at approximately $30,000. Bogart Wealth LLC increased its stake in shares of Trane Technologies by 97.9% during the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the last quarter. Finally, Dagco Inc. bought a new stake in shares of Trane Technologies in the 1st quarter worth approximately $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

TT stock opened at $434.01 on Friday. The firm has a 50 day moving average of $418.82 and a 200-day moving average of $422.66. The firm has a market capitalization of $96.24 billion, a P/E ratio of 34.42, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16. 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.

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

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors 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 yield of 0.9%. The ex-dividend date is Friday, December 5th. Trane Technologies’s payout ratio is presently 28.92%.

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 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 in the company, valued at $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 available through this hyperlink. Also, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the sale, the chief accounting officer owned 7,148 shares of the company’s stock, valued at approximately $3,145,120. This trade represents a 7.74% decrease in their position. The SEC filing for this sale provides additional information. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Northcoast Research cut Trane Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, August 1st. Robert W. Baird lifted their price objective on Trane Technologies from $396.00 to $450.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and boosted their price objective for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Finally, Morgan Stanley increased their target price 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. 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 company. According to MarketBeat, Trane Technologies presently 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.