Prosperity Consulting Group LLC Decreases Holdings in Trane Technologies plc $TT

by · The Cerbat Gem

Prosperity Consulting Group LLC cut its holdings in shares of Trane Technologies plc (NYSE:TT – Free Report) by 5.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,826 shares of the company’s stock after selling 277 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Trane Technologies were worth $2,111,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Huntington National Bank increased its position in shares of Trane Technologies by 4.5% during the 2nd quarter. Huntington National Bank now owns 6,082 shares of the company’s stock valued at $2,660,000 after purchasing an additional 262 shares during the last quarter. Transatlantique Private Wealth LLC increased its position in shares of Trane Technologies by 2.5% during the 2nd quarter. Transatlantique Private Wealth LLC now owns 1,857 shares of the company’s stock valued at $812,000 after purchasing an additional 45 shares during the last quarter. Bridgewater Advisors Inc. increased its position in shares of Trane Technologies by 7.7% during the 2nd quarter. Bridgewater Advisors Inc. now owns 646 shares of the company’s stock valued at $298,000 after purchasing an additional 46 shares during the last quarter. Freestone Capital Holdings LLC purchased a new stake in shares of Trane Technologies during the 2nd quarter valued at $206,000. Finally, Westside Investment Management Inc. increased its holdings in Trane Technologies by 222.7% in the 2nd quarter. Westside Investment Management Inc. now owns 142 shares of the company’s stock worth $62,000 after acquiring an additional 98 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Down 3.1%

TT stock opened at $432.62 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $96.27 billion, a PE ratio of 34.31, a PEG ratio of 2.66 and a beta of 1.12. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The stock has a 50-day simple moving average of $417.99 and a two-hundred day simple moving average of $421.05.

Trane Technologies (NYSE:TT – Get Free Report) last posted its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.80 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.37 EPS. 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 Dividend Announcement

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 issued a dividend of $0.94 per share. 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 payout ratio is presently 28.92%.

Insider Activity

In other Trane Technologies 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 value of $264,000.00. Following the completion of the transaction, the chief accounting officer owned 7,148 shares of the company’s stock, valued at $3,145,120. The trade was a 7.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David S. Regnery sold 22,497 shares of the business’s 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 completion of the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TT shares. Royal Bank Of Canada lifted their price objective on Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a report on Friday, October 31st. UBS Group lifted their price objective on Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Citigroup lifted their price objective on Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their target price on Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research report on Monday, October 6th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $466.50.

Get Our Latest Stock Analysis on Trane Technologies

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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