Trane Technologies plc $TT Shares Sold by Amundi

Key Points

• Amundi has reduced its stake in Trane Technologies plc by 16.6%, now holding 1,303,998 shares worth approximately $431.68 million.
• Trane Technologies reported $3.88 EPS in its latest quarter, exceeding expectations of $3.79, while its revenue was up 7.6% year-over-year.
• Recent analyst ratings show a mixed outlook, with price targets ranging from $370.00 to $520.00 and a consensus rating of "Hold."

Amundi cut its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 16.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,303,998 shares of the company's stock after selling 259,634 shares during the quarter. Amundi owned approximately 0.58% of Trane Technologies worth $431,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of TT. EP Wealth Advisors LLC raised its holdings in Trane Technologies by 14.5% in the 1st quarter. EP Wealth Advisors LLC now owns 2,647 shares of the company's stock worth $892,000 after acquiring an additional 335 shares during the last quarter. PDT Partners LLC grew its position in shares of Trane Technologies by 240.0% during the 1st quarter. PDT Partners LLC now owns 8,500 shares of the company's stock valued at $2,864,000 after acquiring an additional 6,000 shares during the period. 1248 Management LLC bought a new stake in shares of Trane Technologies during the 1st quarter valued at $140,000. Focus Partners Advisor Solutions LLC boosted its holdings in Trane Technologies by 104.3% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 4,465 shares of the company's stock worth $1,504,000 after buying an additional 2,280 shares during the period. Finally, Flputnam Investment Management Co. boosted its holdings in Trane Technologies by 8.6% in the 1st quarter. Flputnam Investment Management Co. now owns 21,964 shares of the company's stock worth $7,400,000 after buying an additional 1,735 shares during the period. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Up 0.3%

Shares of Trane Technologies stock traded up $1.06 during trading hours on Monday, hitting $414.89. The company had a trading volume of 1,068,747 shares, compared to its average volume of 1,445,361. The company has a market cap of $92.32 billion, a P/E ratio of 32.90, a price-to-earnings-growth ratio of 2.58 and a beta of 1.10. The company's 50-day moving average is $434.03 and its two-hundred day moving average is $398.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. Trane Technologies plc has a twelve month low of $298.15 and a twelve month 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 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. Trane Technologies's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Northcoast Research downgraded shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. Citigroup increased their price objective on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Hsbc Global Res downgraded shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Finally, Barclays raised their target price on shares of Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a 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.com, the company has an average rating of "Hold" and a consensus price target of $458.60.

Insider Activity

In related news, CEO David S. Regnery sold 22,497 shares of the firm's stock in a transaction that occurred 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 directly owned 123,713 shares of the company's stock, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by corporate insiders.

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.