QRG Capital Management Inc. Cuts Position in Trane Technologies plc $TT

QRG Capital Management Inc. trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 16.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,645 shares of the company’s stock after selling 10,360 shares during the period. QRG Capital Management Inc.’s holdings in Trane Technologies were worth $22,636,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. NorthRock Partners LLC increased its holdings in Trane Technologies by 1.2% in the 2nd quarter. NorthRock Partners LLC now owns 2,052 shares of the company’s stock valued at $898,000 after purchasing an additional 24 shares in the last quarter. King Luther Capital Management Corp lifted its position in Trane Technologies by 1.3% during the 2nd quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock worth $849,000 after acquiring an additional 24 shares in the last quarter. Old Port Advisors boosted its holdings in Trane Technologies by 3.2% in the 3rd quarter. Old Port Advisors now owns 778 shares of the company’s stock worth $328,000 after acquiring an additional 24 shares during the period. Confluence Wealth Services Inc. grew its position in Trane Technologies by 0.7% in the second quarter. Confluence Wealth Services Inc. now owns 3,609 shares of the company’s stock valued at $1,579,000 after acquiring an additional 25 shares in the last quarter. Finally, Busey Bank increased its stake in Trane Technologies by 3.0% during the 3rd quarter. Busey Bank now owns 871 shares of the company’s stock worth $368,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT opened at $389.21 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.20 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $399.69 and its 200 day moving average price is $417.56. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The firm has a market cap of $86.30 billion, a price-to-earnings ratio of 29.94, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same period in the prior year, the firm earned $3.37 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on TT shares. JPMorgan Chase & Co. raised their target price on Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, October 8th. Wells Fargo & Company reduced their target price on Trane Technologies from $415.00 to $375.00 and set an “underweight” rating for the company in a research note on Friday, December 19th. UBS Group dropped their target price on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Finally, KeyCorp raised shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target on the stock in a research report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $475.60.

Insider Activity at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 600 shares of the company’s stock in a transaction dated 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 approximately $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.