Texas Permanent School Fund Corp Sells 9,475 Shares of Trane Technologies plc $TT

Texas Permanent School Fund Corp trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 29.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 23,153 shares of the company’s stock after selling 9,475 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Trane Technologies were worth $10,127,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ethic Inc. boosted its holdings in shares of Trane Technologies by 6.6% in 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 period. Triton Financial Group Inc bought a new stake in Trane Technologies in the second quarter worth $1,273,000. OMNI 360 Wealth Inc. purchased a new position in Trane Technologies during the second quarter worth $345,000. Illinois Municipal Retirement Fund increased its position in Trane Technologies by 2.7% during the second quarter. Illinois Municipal Retirement Fund now owns 28,083 shares of the company’s stock valued at $12,284,000 after acquiring an additional 726 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Trane Technologies by 350.3% in the first quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company’s stock valued at $7,140,000 after acquiring an additional 16,485 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.0%

Shares of NYSE TT opened at $395.16 on Tuesday. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The stock’s fifty day simple moving average is $417.95 and its two-hundred day simple moving average is $423.93. The stock has a market capitalization of $87.62 billion, a PE ratio of 30.40, a price-to-earnings-growth ratio of 2.25 and a beta of 1.19. The company has a current ratio of 1.20, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.80 by $0.08. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period in the previous year, the company posted $3.37 EPS. The business’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, analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be given a $0.94 dividend. 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 payout ratio is presently 28.92%.

Insider Activity at Trane Technologies

In related news, 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 transaction of $264,000.00. Following the completion of the transaction, the chief accounting officer owned 7,148 shares in the company, valued at $3,145,120. The trade was a 7.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Barclays raised their price objective on shares of Trane Technologies from $485.00 to $495.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada boosted their price objective on Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $472.07.

Trane Technologies Company Profile

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.