Ascent Group LLC Boosts Holdings in Trane Technologies plc $TT

Key Points

• Ascent Group LLC increased its stake in Trane Technologies plc by 4.8%, bringing its total position to $4.45 million, indicating growing institutional interest in the company.
• Trane Technologies reported earnings of $3.88 per share, exceeding analysts' expectations, with a year-over-year revenue increase of 7.6% despite a slight shortfall against projections.
• Insider trading activity included CEO David S. Regnery selling 22,497 shares at an average price of $410.00, representing a 15.39% reduction in his ownership stake.

Ascent Group LLC increased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,210 shares of the company's stock after acquiring an additional 610 shares during the period. Ascent Group LLC's holdings in Trane Technologies were worth $4,451,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Csenge Advisory Group raised its holdings in shares of Trane Technologies by 0.6% in the 1st quarter. Csenge Advisory Group now owns 3,944 shares of the company's stock valued at $1,314,000 after purchasing an additional 25 shares in the last quarter. Fiera Capital Corp increased its holdings in Trane Technologies by 1.4% in the first quarter. Fiera Capital Corp now owns 1,930 shares of the company's stock valued at $650,000 after buying an additional 27 shares during the last quarter. Bingham Private Wealth LLC increased its holdings in Trane Technologies by 3.2% in the first quarter. Bingham Private Wealth LLC now owns 944 shares of the company's stock valued at $318,000 after buying an additional 29 shares during the last quarter. Tradewinds Capital Management LLC raised its stake in Trane Technologies by 46.2% in the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after buying an additional 30 shares in the last quarter. Finally, Smith Group Asset Management LLC lifted its holdings in Trane Technologies by 1.2% during the 1st quarter. Smith Group Asset Management LLC now owns 2,610 shares of the company's stock worth $879,000 after buying an additional 30 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 123,713 shares of the company's stock, valued at $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.14% of the company's stock.

Trane Technologies Stock Performance

Shares of TT traded down $1.50 during mid-day trading on Thursday, reaching $415.82. 1,483,631 shares of the company's stock were exchanged, compared to its average volume of 1,132,802. The business's fifty day simple moving average is $432.76 and its 200-day simple moving average is $398.63. The stock has a market capitalization of $92.52 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 2.60 and a beta of 1.10. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. 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 (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.77 billion. During the same quarter in the prior year, the business earned $3.30 EPS. Trane Technologies's quarterly revenue 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. On average, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on TT shares. Citigroup increased their price objective on Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a report on Monday, July 14th. Wells Fargo & Company upped their price target on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. The Goldman Sachs Group raised their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. 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. Finally, JPMorgan Chase & Co. increased their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $458.60.

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.