Midwest Trust Co Acquires Shares of 1,972 Trane Technologies plc $TT

Midwest Trust Co acquired a new stake in Trane Technologies plc (NYSE:TT) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,972 shares of the company’s stock, valued at approximately $863,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ethic Inc. lifted its position in shares of Trane Technologies by 6.6% during the 2nd quarter. Ethic Inc. now owns 26,836 shares of the company’s stock worth $11,601,000 after purchasing an additional 1,672 shares during the last quarter. Triton Financial Group Inc bought a new position in Trane Technologies during the second quarter worth about $1,273,000. OMNI 360 Wealth Inc. bought a new stake in Trane Technologies in the second quarter valued at $345,000. Jones Financial Companies Lllp lifted its holdings in Trane Technologies by 350.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company’s stock valued at $7,140,000 after purchasing an additional 16,485 shares during the last quarter. Finally, BROOKFIELD Corp ON boosted its holdings in shares of Trane Technologies by 11.0% in the 1st quarter. BROOKFIELD Corp ON now owns 8,227 shares of the company’s stock worth $2,772,000 after acquiring an additional 812 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TT shares. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Barclays increased their price objective on shares of Trane Technologies from $485.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Finally, HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and upped their price objective for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $466.50.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the sale, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Elizabeth A. Elwell sold 600 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total transaction 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.14% of the company’s stock.

Trane Technologies Trading Down 2.8%

Shares of TT opened at $421.20 on Wednesday. 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 firm has a 50 day moving average price of $419.39 and a 200-day moving average price of $424.42. The firm has a market cap of $93.40 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 2.66 and a beta of 1.16. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18.

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

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, December 5th. Trane Technologies’s dividend payout ratio is currently 28.92%.

About Trane Technologies

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.