Pacer Advisors Inc. Purchases 6,674 Shares of Trane Technologies plc $TT

Pacer Advisors Inc. increased its position in Trane Technologies plc (NYSE:TT) by 28.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,500 shares of the company’s stock after acquiring an additional 6,674 shares during the quarter. Pacer Advisors Inc.’s holdings in Trane Technologies were worth $12,870,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Trane Technologies by 1.7% in the second quarter. Vanguard Group Inc. now owns 19,792,410 shares of the company’s stock worth $8,657,398,000 after purchasing an additional 335,634 shares during the period. State Street Corp grew its holdings in Trane Technologies by 0.3% in the 2nd quarter. State Street Corp now owns 10,077,267 shares of the company’s stock valued at $4,407,904,000 after buying an additional 31,826 shares during the last quarter. Geode Capital Management LLC increased its position in Trane Technologies by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock worth $2,164,764,000 after buying an additional 56,293 shares during the period. Norges Bank bought a new position in Trane Technologies in the 2nd quarter worth approximately $1,356,065,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Trane Technologies by 89.1% during the second quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock worth $1,066,845,000 after buying an additional 1,157,405 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TT. Bank of America upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $490.00 to $550.00 in a research note on Thursday, November 13th. Wells Fargo & Company reduced their price target on shares of Trane Technologies from $415.00 to $375.00 and set an “underweight” rating for the company in a report on Friday, December 19th. Royal Bank Of Canada boosted their price objective on shares of Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a report on Friday, October 31st. Citigroup increased 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. Finally, JPMorgan Chase & Co. lifted their target price on Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Eight research 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $469.40.

Trane Technologies Price Performance

NYSE:TT opened at $392.74 on Friday. The company has a market capitalization of $87.09 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 2.26 and a beta of 1.19. The company has a 50-day moving average of $412.67 and a 200-day moving average of $421.52. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.20.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, October 30th. The company reported $3.88 EPS 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 firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter last year, the company earned $3.37 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

Insider Activity at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 600 shares of the company’s 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 represents a 7.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.