CoreCap Advisors LLC Raises Stake in Trane Technologies plc $TT

CoreCap Advisors LLC grew its stake in Trane Technologies plc (NYSE:TT) by 1,095.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,919 shares of the company’s stock after acquiring an additional 5,424 shares during the quarter. CoreCap Advisors LLC’s holdings in Trane Technologies were worth $2,907,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TT. Norges Bank purchased a new stake in shares of Trane Technologies in the fourth quarter valued at about $1,163,124,000. Capital International Investors purchased a new position in Trane Technologies during the fourth quarter worth about $324,639,000. Amundi boosted its holdings in Trane Technologies by 47.8% in the 1st quarter. Amundi now owns 2,174,396 shares of the company’s stock valued at $906,158,000 after purchasing an additional 703,018 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Trane Technologies by 536.6% in the 1st quarter. First Trust Advisors LP now owns 532,138 shares of the company’s stock valued at $221,763,000 after buying an additional 448,547 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in shares of Trane Technologies by 215.9% during the 1st quarter. Hsbc Holdings PLC now owns 653,423 shares of the company’s stock worth $271,950,000 after buying an additional 446,598 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on TT. Citigroup decreased their price objective on Trane Technologies from $570.00 to $566.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Friday, July 17th. Wall Street Zen upgraded Trane Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, KeyCorp boosted their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $520.07.

Trane Technologies Trading Up 2.6%

Shares of TT stock opened at $484.38 on Thursday. The stock has a market capitalization of $106.57 billion, a P/E ratio of 36.70, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.76 and a current ratio of 1.07. The company has a 50 day moving average price of $471.93 and a 200 day moving average price of $454.88.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, July 30th. The company reported $4.31 earnings per share for the quarter, topping analysts’ consensus estimates of $4.27 by $0.04. Trane Technologies had a return on equity of 35.72% and a net margin of 13.28%.The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the prior year, the company earned $3.88 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. Equities research analysts predict that Trane Technologies plc will post 15.27 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be paid a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s payout ratio is currently 31.82%.

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.