Allworth Financial LP Lowers Position in Trane Technologies plc $TT

Key Points

• Allworth Financial reduced its Trane Technologies position by 68.2% in the second quarter, selling 13,518 shares and retaining 6,309 shares valued at approximately $3.1 million. Institutional investors collectively own 82.97% of the company.
• Analysts maintain a generally positive outlook, with Trane Technologies receiving a consensus “Moderate Buy” rating and an average price target of $521.50, despite several recent target cuts and rating changes.
• Trane Technologies exceeded quarterly expectations, reporting $4.31 in earnings per share and $6.35 billion in revenue, with revenue up 10.6% year over year. CEO David Regnery separately sold 43,778 shares under a pre-arranged trading plan.

Allworth Financial LP trimmed its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 68.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,309 shares of the company's stock after selling 13,518 shares during the quarter. Allworth Financial LP's holdings in Trane Technologies were worth $3,099,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Wilkerson Advisory Group LLC boosted its position in shares of Trane Technologies by 136.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company's stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Tucker Asset Management LLC purchased a new position in Trane Technologies during the fourth quarter valued at $25,000. Elevation Wealth Partners LLC boosted its holdings in Trane Technologies by 153.8% in the second quarter. Elevation Wealth Partners LLC now owns 66 shares of the company's stock worth $32,000 after acquiring an additional 40 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Trane Technologies in the third quarter worth $32,000. Finally, Physician Wealth Advisors Inc. grew its stake in shares of Trane Technologies by 192.6% in the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company's stock worth $33,000 after acquiring an additional 52 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TT shares. Wall Street Zen cut shares of Trane Technologies from a "buy" rating to a "hold" rating in a report on Sunday, August 30th. Citigroup cut their price target on shares of Trane Technologies from $570.00 to $566.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Sanford C. Bernstein boosted their price objective on shares of Trane Technologies from $555.00 to $575.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. JPMorgan Chase & Co. upped their price objective on Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Finally, Royal Bank Of Canada cut their target price on Trane Technologies from $501.00 to $496.00 and set a "sector perform" rating on the stock in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $521.50.

Trane Technologies Price Performance

NYSE TT opened at $439.89 on Friday. The business's fifty day moving average price is $465.58 and its 200-day moving average price is $460.03. The stock has a market capitalization of $96.78 billion, a price-to-earnings ratio of 33.32, a PEG ratio of 2.12 and a beta of 1.19. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 0.76. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $505.87.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $4.31 earnings per share for the quarter, beating analysts' consensus estimates of $4.27 by $0.04. Trane Technologies had a return on equity of 35.72% and a net margin of 13.28%.The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter in the prior year, the company earned $3.88 earnings per share. Trane Technologies's revenue was up 10.6% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. On average, equities analysts predict that Trane Technologies plc will post 15.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO David Regnery sold 43,778 shares of Trane Technologies stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $475.00, for a total transaction of $20,794,550.00. Following the transaction, the chief executive officer owned 96,950 shares in the company, valued at $46,051,250. This trade represents a 31.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company's stock.

Trane Technologies Company Profile

Trane Technologies plc is a global climate-focused company that designs, manufactures and services solutions for heating, ventilation and air conditioning (HVAC), as well as transport refrigeration. Its offerings include commercial and residential HVAC systems, building controls, energy-efficiency solutions, aftermarket services and parts, and related building-management technologies.

The company also serves the transportation market through refrigeration and temperature-control systems for trucks, trailers, rail cars and other applications.

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