3,343 Shares in Trane Technologies plc $TT Acquired by Financiere des Professionnels Fonds d investissement inc.

Key Points

• Financiere des Professionnels Fonds d'investissement inc. acquired 3,343 shares of Trane Technologies plc for around $1.46 million in the second quarter.
• CEO David S. Regnery sold 22,497 shares at an average price of $410.00, representing a 15.39% decrease in their ownership.
• Morgan Stanley increased its target price for Trane Technologies from $445.00 to $520.00, indicating a positive outlook despite mixed ratings from other analysts.

Financiere des Professionnels Fonds d investissement inc. acquired a new position in Trane Technologies plc (NYSE:TT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,343 shares of the company's stock, valued at approximately $1,462,000.

Several other institutional investors have also made changes to their positions in TT. WFA Asset Management Corp raised its position in Trane Technologies by 208.3% in the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after buying an additional 50 shares during the last quarter. Saudi Central Bank acquired a new stake in shares of Trane Technologies during the 1st quarter worth approximately $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Trane Technologies in the 1st quarter valued at approximately $31,000. Bogart Wealth LLC lifted its holdings in shares of Trane Technologies by 97.9% during the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after purchasing an additional 46 shares during the period. Finally, Tradewinds Capital Management LLC lifted its position in shares of Trane Technologies by 46.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock worth $32,000 after purchasing an additional 30 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Up 1.0%

TT stock traded up $3.83 during trading on Thursday, hitting $402.79. The company had a trading volume of 1,387,197 shares, compared to its average volume of 1,289,719. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The company has a 50 day simple moving average of $429.03 and a 200-day simple moving average of $400.91. The firm has a market capitalization of $89.62 billion, a P/E ratio of 31.94, a PEG ratio of 2.49 and a beta of 1.10.

Trane Technologies (NYSE:TT - Get Free Report) 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. The business had revenue of $5.75 billion for 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 company's revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TT shares. Hsbc Global Res lowered Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Wells Fargo & Company increased their price target on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. UBS Group increased their price target on shares of Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group increased their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Finally, Citigroup reduced their price target on shares of Trane Technologies from $499.00 to $494.00 and set a "buy" rating for the company in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Trane Technologies presently has an average rating of "Hold" and an average price target of $457.40.

Insider Activity

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

Trane Technologies Profile

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.