Trane Technologies plc $TT Shares Sold by Ninety One SA PTY Ltd

Ninety One SA PTY Ltd decreased its holdings in shares of Trane Technologies plc (NYSE:TT) by 45.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 702 shares of the company’s stock after selling 595 shares during the quarter. Ninety One SA PTY Ltd’s holdings in Trane Technologies were worth $305,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Trane Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company’s stock worth $6,555,377,000 after buying an additional 221,206 shares during the period. JPMorgan Chase & Co. raised its stake in Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after acquiring an additional 1,408,421 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Trane Technologies by 7.2% during the first quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock valued at $1,208,044,000 after purchasing an additional 241,910 shares during the period. Nuveen LLC acquired a new position in shares of Trane Technologies during the first quarter valued at $877,468,000. Finally, Northern Trust Corp increased its holdings in shares of Trane Technologies by 0.7% during the first quarter. Northern Trust Corp now owns 2,584,819 shares of the company’s stock valued at $870,877,000 after purchasing an additional 17,292 shares during the period. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and upped their price target for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Wells Fargo & Company lifted their price target on Trane Technologies from $370.00 to $410.00 and gave the company an “underweight” rating in a research report on Tuesday, July 1st. The Goldman Sachs Group raised their target price on Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Royal Bank Of Canada raised their target price on Trane Technologies from $463.00 to $467.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Finally, Northcoast Research downgraded shares of Trane Technologies from a “buy” rating to a “neutral” rating in a report on Friday, August 1st. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus target price of $457.40.

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction that occurred 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 transaction, the chief executive officer owned 123,713 shares of the company’s stock, valued at $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by insiders.

Trane Technologies Stock Performance

Trane Technologies stock opened at $422.53 on Wednesday. The firm’s 50 day simple moving average is $423.94 and its 200-day simple moving average is $405.12. The company has a market cap of $94.02 billion, a P/E ratio of 33.51, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. 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 posted its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.79 by $0.09. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, equities research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

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.