Vancity Investment Management Ltd Acquires Shares of 47,584 Trane Technologies plc $TT

Key Points

• Vancity Investment Management Ltd has acquired 47,584 shares of Trane Technologies plc, valued at approximately $16 million, making it the 18th largest position in their portfolio.
• CEO David S. Regnery sold 22,497 shares of the company, reducing his holdings by 15.39% and leaving him with shares valued at around $50.7 million.
• Trane Technologies reported $3.88 EPS for the last quarter, beating analyst estimates, and anticipates 12.83 EPS for the current fiscal year, with a current market cap of $92.09 billion.

Vancity Investment Management Ltd purchased a new position in Trane Technologies plc (NYSE:TT - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 47,584 shares of the company's stock, valued at approximately $16,032,000. Trane Technologies makes up about 2.2% of Vancity Investment Management Ltd's investment portfolio, making the stock its 18th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Minot DeBlois Advisors LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at $26,000. WFA Asset Management Corp grew its holdings in shares of Trane Technologies by 208.3% during the first 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. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $28,000. Saudi Central Bank bought a new position in Trane Technologies in the 1st quarter valued at approximately $30,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Trane Technologies in the 1st quarter worth $31,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TT shares. Barclays increased their price objective on Trane Technologies from $480.00 to $495.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Morgan Stanley raised their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and increased their price objective for the company from $415.00 to $460.00 in a research report on Thursday, July 31st. Finally, Hsbc Global Res downgraded shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Five investment 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's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $458.60.

Trane Technologies Stock Performance

NYSE:TT traded down $1.50 during mid-day trading on Thursday, hitting $415.82. 1,483,631 shares of the company traded hands, compared to its average volume of 1,132,802. 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 stock's fifty day moving average price is $432.76 and its 200-day moving average price is $398.63. The firm has a market cap of $92.52 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 2.60 and a beta of 1.10. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) 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 company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the previous year, the company posted $3.30 EPS. The firm'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. Research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Insider Transactions at Trane Technologies

In other Trane Technologies 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 sale, the chief executive officer owned 123,713 shares in the company, valued at $50,722,330. The trade was a 15.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.14% of the company's stock.

Trane Technologies Company 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.