Avanza Fonder AB Has $7.49 Million Stake in Trane Technologies plc $TT

Key Points

• Avanza Fonder AB reduced its stake in Trane Technologies plc by 12.8% during the second quarter, now owning shares valued at $7.49 million.
• CEO David S. Regnery sold 22,497 shares of the company for approximately $9.22 million, a 15.39% decrease in his ownership.
• Trane Technologies reported $3.88 EPS for the last quarter, beating expectations, with an average price target for the stock currently set at $457.40.

Avanza Fonder AB decreased its stake in Trane Technologies plc (NYSE:TT - Free Report) by 12.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,133 shares of the company's stock after selling 2,524 shares during the quarter. Avanza Fonder AB's holdings in Trane Technologies were worth $7,494,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. WFA Asset Management Corp boosted its stake in Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Saudi Central Bank acquired a new position in Trane Technologies in the first quarter worth $30,000. Opal Wealth Advisors LLC acquired a new position in Trane Technologies in the first quarter worth $31,000. Bogart Wealth LLC boosted its stake in Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after purchasing an additional 46 shares in the last quarter. Finally, Tradewinds Capital Management LLC boosted 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 worth $32,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Buying and Selling

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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.14% of the company's stock.

Trane Technologies Stock Up 1.1%

NYSE:TT opened at $406.93 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The company has a market cap of $90.55 billion, a PE ratio of 32.27, a PEG ratio of 2.54 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 stock has a 50-day simple moving average of $428.42 and a 200 day simple moving average of $401.72.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.77 billion. During the same period in the prior year, the firm posted $3.30 earnings per share. The business'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, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. HSBC lowered Trane Technologies from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Morgan Stanley upped their price target on Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Royal Bank Of Canada upped their price target on Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Hsbc Global Res lowered Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Finally, UBS Group upped their price objective on Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Trane Technologies presently has an average rating of "Hold" and a consensus price target of $457.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.