Baker Avenue Asset Management LP Has $2.97 Million Stake in Trane Technologies plc $TT

Baker Avenue Asset Management LP grew its position in Trane Technologies plc (NYSE:TT) by 1,085.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 7,624 shares of the company’s stock after purchasing an additional 6,981 shares during the period. Baker Avenue Asset Management LP’s holdings in Trane Technologies were worth $2,967,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Aptus Capital Advisors LLC grew its position in Trane Technologies by 169.8% in the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock valued at $6,219,000 after acquiring an additional 9,276 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Trane Technologies by 2.9% in the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after acquiring an additional 72,998 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Trane Technologies by 64.0% in the 4th quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock valued at $2,911,000 after purchasing an additional 2,917 shares in the last quarter. Varma Mutual Pension Insurance Co increased its holdings in shares of Trane Technologies by 9.0% during the third quarter. Varma Mutual Pension Insurance Co now owns 43,811 shares of the company’s stock worth $18,486,000 after buying an additional 3,600 shares in the last quarter. Finally, Korea Investment CORP lifted its stake in shares of Trane Technologies by 17.5% in the 3rd quarter. Korea Investment CORP now owns 204,695 shares of the company’s stock valued at $86,373,000 after acquiring an additional 30,558 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 635 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the transaction, the chief accounting officer owned 7,100 shares in the company, valued at approximately $3,001,170. This represents a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 36,045 shares of Trane Technologies stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the transaction, the chief executive officer owned 96,948 shares of the company’s stock, valued at $40,978,950.12. This represents a 27.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 53,654 shares of company stock worth $23,269,523. Company insiders own 0.14% of the company’s stock.

Trane Technologies Price Performance

Shares of TT opened at $452.79 on Friday. The firm has a market cap of $100.09 billion, a PE ratio of 35.02, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $503.47. The business’s 50 day moving average price is $454.93 and its two-hundred day moving average price is $429.89. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.63 EPS for the quarter, topping 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 company had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter last year, the firm posted $2.45 EPS. 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. On average, equities analysts anticipate that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TT shares. Barclays raised their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Oppenheimer upped their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Wells Fargo & Company increased their price objective on Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Finally, Citigroup increased their price target on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Moderate Buy” and an average price target 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.