Los Angeles Capital Management LLC Lowers Holdings in Trane Technologies plc $TT

Los Angeles Capital Management LLC reduced its position in shares of Trane Technologies plc (NYSE:TT) by 23.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 598,588 shares of the company’s stock after selling 182,627 shares during the period. Trane Technologies makes up 0.9% of Los Angeles Capital Management LLC’s portfolio, making the stock its 17th biggest holding. Los Angeles Capital Management LLC owned about 0.27% of Trane Technologies worth $252,580,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Trane Technologies in the 2nd quarter worth about $1,356,065,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Trane Technologies by 229.3% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock worth $766,583,000 after purchasing an additional 1,220,388 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Trane Technologies by 89.1% in the second quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock worth $1,066,845,000 after purchasing an additional 1,157,405 shares during the last quarter. ABN AMRO Bank N.V. purchased a new position in Trane Technologies in the 2nd quarter worth approximately $291,206,000. Finally, AQR Capital Management LLC raised its position in shares of Trane Technologies by 95.1% during the 1st quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock valued at $291,727,000 after buying an additional 431,495 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Trane Technologies from $415.00 to $375.00 and set an “underweight” rating on the stock in a research note on Friday, December 19th. Royal Bank Of Canada raised their price objective on Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target on the stock in a research report on Monday, December 15th. Citigroup upped their price objective 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. Finally, JPMorgan Chase & Co. lifted 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. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $469.40.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $391.83 on Wednesday. The company’s fifty day simple moving average is $411.52 and its two-hundred day simple moving average is $421.10. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The firm has a market cap of $86.88 billion, a PE ratio of 30.14, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. The company has a quick ratio of 0.84, a current ratio of 1.20 and a debt-to-equity ratio of 0.47.

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 13.93% and a return on equity of 37.04%. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period in the prior year, the business posted $3.37 earnings per share. Trane Technologies’s revenue for the quarter 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, equities analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be given 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 dividend payout ratio (DPR) is currently 28.92%.

Insider Activity

In related news, CAO Elizabeth A. Elwell sold 600 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total transaction of $264,000.00. Following the completion of the transaction, the chief accounting officer owned 7,148 shares in the company, valued at $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

Trane Technologies Company 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.