Trane Technologies plc $TT Shares Acquired by Suncoast Equity Management

by · The Markets Daily

Suncoast Equity Management boosted its stake in shares of Trane Technologies plc (NYSE:TT – Free Report) by 51.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,468 shares of the company’s stock after purchasing an additional 3,209 shares during the quarter. Trane Technologies makes up approximately 0.4% of Suncoast Equity Management’s holdings, making the stock its 28th largest position. Suncoast Equity Management’s holdings in Trane Technologies were worth $4,141,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TT. Ameriflex Group Inc. acquired a new position in Trane Technologies during the 2nd quarter valued at approximately $28,000. Hantz Financial Services Inc. boosted its position in Trane Technologies by 1,016.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after purchasing an additional 61 shares during the period. Saudi Central Bank acquired a new position in Trane Technologies during the 1st quarter valued at approximately $30,000. Bogart Wealth LLC boosted its position in Trane Technologies by 97.9% during the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the period. Finally, Dagco Inc. acquired a new position in Trane Technologies during the 1st quarter worth $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on TT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Robert W. Baird boosted their price target on Trane Technologies from $396.00 to $450.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Barclays boosted their price target on Trane Technologies from $485.00 to $495.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Northcoast Research lowered Trane Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. boosted their price target on Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Six research 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $466.50.

Read Our Latest Research Report on TT

Trane Technologies Stock Up 0.8%

TT opened at $436.34 on Thursday. 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’s fifty day moving average is $418.22 and its 200-day moving average is $421.16. The company has a market capitalization of $97.09 billion, a PE ratio of 34.60, a P/E/G ratio of 2.66 and a beta of 1.12.

Trane Technologies (NYSE:TT – Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the business earned $3.37 EPS. The company’s quarterly revenue 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. On average, equities analysts predict 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 paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s payout ratio is currently 28.92%.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 22,497 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Elizabeth A. Elwell sold 600 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total value of $264,000.00. Following the sale, the chief accounting officer directly owned 7,148 shares in the company, valued at $3,145,120. This trade represents a 7.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is owned by insiders.

Trane Technologies Company 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.

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