Trane Technologies plc $TT Shares Bought by Shelton Capital Management

by · The Markets Daily

Shelton Capital Management grew its holdings in Trane Technologies plc (NYSE:TT – Free Report) by 20.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,136 shares of the company’s stock after purchasing an additional 7,159 shares during the quarter. Shelton Capital Management’s holdings in Trane Technologies were worth $18,431,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Trane Technologies by 1.7% during the second quarter. Vanguard Group Inc. now owns 19,792,410 shares of the company’s stock worth $8,657,398,000 after buying an additional 335,634 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Trane Technologies by 9.8% during the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after acquiring an additional 1,408,421 shares during the last quarter. Geode Capital Management LLC increased its position in Trane Technologies by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock worth $2,164,764,000 after purchasing an additional 56,293 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Trane Technologies by 7.2% in the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock valued at $1,208,044,000 after purchasing an additional 241,910 shares during the last quarter. Finally, Norges Bank purchased a new position in Trane Technologies in the 2nd quarter valued at about $1,356,065,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the sale, the chief executive officer directly owned 123,713 shares in the company, valued at approximately $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Elizabeth A. Elwell sold 600 shares of the business’s stock in a transaction that occurred 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 owned 7,148 shares of the company’s stock, valued at $3,145,120. This represents a 7.74% decrease in their position. The SEC filing for this sale provides additional information. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Performance

Shares of TT stock opened at $421.75 on Monday. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The stock has a market capitalization of $93.52 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 2.66 and a beta of 1.16. The company’s 50-day simple moving average is $421.00 and its 200-day simple moving average is $425.96.

Trane Technologies (NYSE:TT – Get Free Report) last released its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.08. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the previous year, the firm earned $3.37 earnings per share. The firm’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. Equities analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders 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 yield of 0.9%. The ex-dividend date is Friday, December 5th. Trane Technologies’s payout ratio is presently 28.92%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TT shares. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Bank of America upgraded 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 report on Thursday, November 13th. Royal Bank Of Canada increased their target price on Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a research report on Friday, October 31st. Wells Fargo & Company increased their target price on shares of Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research report on Monday, October 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $470.07.

Check Out Our Latest Analysis on TT

Trane Technologies Profile

(Free Report)

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

See Also

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