Argus Investors Counsel Inc. Sells 939 Shares of Trane Technologies plc $TT

Key Points

• Argus Investors Counsel Inc. reduced its stake in Trane Technologies plc by 9.9%, selling 939 shares, which now represents 2.6% of its total investment portfolio with a current value of $3,733,000.
• Recent activity among institutional investors includes various changes, such as Tritonpoint Wealth LLC acquiring new positions worth about $221,000 in Trane Technologies during the same quarter.
• Trane Technologies reported earnings of $3.88 per share for the last quarter, exceeding expectations by $0.09, while its revenue increased by 7.6% year-over-year, totaling $5.75 billion.

Argus Investors Counsel Inc. cut its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 9.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,533 shares of the company's stock after selling 939 shares during the period. Trane Technologies makes up approximately 2.6% of Argus Investors Counsel Inc.'s investment portfolio, making the stock its 6th largest position. Argus Investors Counsel Inc.'s holdings in Trane Technologies were worth $3,733,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TT. Tritonpoint Wealth LLC bought a new position in Trane Technologies during the second quarter valued at about $221,000. Diversified Enterprises LLC increased its holdings in Trane Technologies by 5.2% during the second quarter. Diversified Enterprises LLC now owns 1,719 shares of the company's stock valued at $752,000 after buying an additional 85 shares during the last quarter. Independent Wealth Network Inc. purchased a new stake in shares of Trane Technologies during the second quarter worth about $234,000. ORG Partners LLC boosted its holdings in shares of Trane Technologies by 173.8% in the 2nd quarter. ORG Partners LLC now owns 178 shares of the company's stock worth $77,000 after purchasing an additional 113 shares during the period. Finally, Rainier Family Wealth Inc. lifted its holdings in shares of Trane Technologies by 1.6% in the 2nd quarter. Rainier Family Wealth Inc. now owns 3,117 shares of the company's stock worth $1,363,000 after buying an additional 49 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on TT. Citigroup dropped 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, September 17th. Northcoast Research cut Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. UBS Group raised their price target on Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Barclays lowered their price target on Trane Technologies from $495.00 to $485.00 and set an "overweight" rating for the company in a research note on Tuesday, September 16th. Finally, Hsbc Global Res cut Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $457.40.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the sale, the chief executive officer directly owned 123,713 shares of the company's stock, valued at approximately $50,722,330. This represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is owned by company insiders.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $415.91 on Friday. The business's 50 day moving average price is $425.02 and its 200-day moving average price is $404.08. 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 1 year low of $298.15 and a 1 year high of $476.18. The firm has a market capitalization of $92.55 billion, a PE ratio of 32.98, a P/E/G ratio of 2.58 and a beta of 1.10.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period in the prior year, the business posted $3.30 earnings per share. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

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.

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