Trane Technologies plc $TT Position Increased by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC lifted its position in Trane Technologies plc (NYSE:TT) by 87.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,346 shares of the company’s stock after buying an additional 2,027 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Trane Technologies were worth $1,853,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Icon Advisers Inc. Co. purchased a new position in Trane Technologies during the 2nd quarter worth approximately $26,000. Ameriflex Group Inc. purchased a new stake in shares of Trane Technologies in the second quarter valued at $28,000. Hantz Financial Services Inc. boosted its position in shares of Trane Technologies by 1,016.7% in the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after buying an additional 61 shares during the period. Saudi Central Bank purchased a new position in shares of Trane Technologies during the first quarter valued at $30,000. Finally, CBIZ Investment Advisory Services LLC raised its position in Trane Technologies by 23.4% during the first quarter. CBIZ Investment Advisory Services LLC now owns 137 shares of the company’s stock valued at $46,000 after buying an additional 26 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 1.0%

Trane Technologies stock opened at $393.88 on Wednesday. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. The company’s fifty day moving average price is $414.21 and its two-hundred day moving average price is $422.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.20 and a quick ratio of 0.84. The company has a market capitalization of $87.34 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.25 and a beta of 1.19.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.08. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the company posted $3.37 EPS. The firm’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. On average, analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, December 5th. Trane Technologies’s payout ratio is presently 28.92%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. KeyCorp raised Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a research note on Monday, December 15th. Wells Fargo & Company dropped their price objective on shares of Trane Technologies from $415.00 to $375.00 and set an “underweight” rating on the stock in a research note on Friday, December 19th. Citigroup lifted their target price on shares of Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, October 8th. Finally, Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $490.00 to $550.00 in a report on Thursday, November 13th. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $469.40.

Insider Activity

In related news, CAO Elizabeth A. Elwell sold 600 shares of the firm’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the transaction, the chief accounting officer directly owned 7,148 shares in the company, valued at approximately $3,145,120. This trade represents a 7.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Profile

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.