Trane Technologies plc $TT Shares Purchased by Investment Management Corp of Ontario

by · The Cerbat Gem

Investment Management Corp of Ontario raised its holdings in Trane Technologies plc (NYSE:TT – Free Report) by 7.6% in the second quarter, Holdings Channel reports. The fund owned 22,753 shares of the company’s stock after buying an additional 1,604 shares during the period. Investment Management Corp of Ontario’s holdings in Trane Technologies were worth $9,952,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. iSAM Funds UK Ltd purchased a new stake in shares of Trane Technologies in the second quarter valued at approximately $787,000. AXA S.A. boosted its stake in Trane Technologies by 14.0% during the second quarter. AXA S.A. now owns 381,320 shares of the company’s stock worth $166,793,000 after buying an additional 46,824 shares during the last quarter. 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 in the last quarter. Acorn Wealth Advisors LLC acquired a new stake in shares of Trane Technologies in the 2nd quarter worth $228,000. Finally, Gerber Kawasaki Wealth & Investment Management increased its stake in shares of Trane Technologies by 6.8% in the 2nd quarter. Gerber Kawasaki Wealth & Investment Management now owns 11,798 shares of the company’s stock worth $5,161,000 after acquiring an additional 753 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. 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 report on Friday, October 31st. Barclays boosted their target price on shares of Trane Technologies from $485.00 to $495.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Royal Bank Of Canada raised their price target 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, October 8th. Finally, Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $490.00 to $550.00 in a research note on Thursday, November 13th. Seven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and a consensus target price of $470.07.

View Our Latest Stock Report on TT

Trane Technologies Trading Down 1.2%

Shares of NYSE TT opened at $396.69 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $87.96 billion, a PE ratio of 30.51, a PEG ratio of 2.31 and a beta of 1.19. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The stock has a fifty day simple moving average of $420.60 and a 200-day simple moving average of $425.06.

Trane Technologies (NYSE:TT – Get Free Report) last posted its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.08. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.80 billion. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.Trane Technologies’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.37 EPS. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

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 paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is presently 28.92%.

Insiders Place Their Bets

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 shares were sold at an average price of $440.00, for a total transaction of $264,000.00. Following the sale, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at $3,145,120. This represents a 7.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is currently owned by insiders.

About Trane Technologies

(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.

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