QRG Capital Management Inc. Acquires 18,121 Shares of Trane Technologies plc $TT

QRG Capital Management Inc. boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 39.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 64,005 shares of the company’s stock after purchasing an additional 18,121 shares during the quarter. QRG Capital Management Inc.’s holdings in Trane Technologies were worth $27,996,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Ascent Group LLC lifted its position in shares of Trane Technologies by 2.1% in the 2nd quarter. Ascent Group LLC now owns 13,492 shares of the company’s stock worth $5,902,000 after acquiring an additional 282 shares during the period. Consilium Wealth Advisory LLC lifted its position in shares of Trane Technologies by 558.3% in the 2nd quarter. Consilium Wealth Advisory LLC now owns 45,713 shares of the company’s stock worth $19,995,000 after acquiring an additional 38,769 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Trane Technologies by 9.1% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,594 shares of the company’s stock worth $697,000 after acquiring an additional 133 shares during the period. Abacus Planning Group Inc. lifted its position in shares of Trane Technologies by 20.2% in the 2nd quarter. Abacus Planning Group Inc. now owns 767 shares of the company’s stock worth $335,000 after acquiring an additional 129 shares during the period. Finally, Hilltop National Bank bought a new stake in shares of Trane Technologies in the 2nd quarter worth approximately $2,805,000. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 22,497 shares of the firm’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 completion of the sale, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at $50,722,330. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on TT. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and raised their price objective for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. Royal Bank Of Canada raised their price objective on Trane Technologies from $463.00 to $467.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 31st. Morgan Stanley raised their price objective on Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. The Goldman Sachs Group increased their target price on Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Finally, UBS Group increased their target price on Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $457.40.

Trane Technologies Trading Up 0.2%

Shares of TT opened at $424.29 on Friday. The stock has a 50 day simple moving average of $421.53 and a 200-day simple moving average of $406.31. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The stock has a market cap of $94.41 billion, a PE ratio of 33.65, a PEG ratio of 2.63 and a beta of 1.12. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same period last year, the firm posted $3.30 EPS. The business’s revenue was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal 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.