Ballentine Partners LLC Raises Holdings in Trane Technologies plc $TT

Key Points

• Ballentine Partners LLC increased its stake in Trane Technologies plc by 46.9%, owning 4,458 shares worth approximately $1,950,000 as of the latest filing.
• CEO David S. Regnery sold 22,497 shares of Trane Technologies for $9.22 million, reflecting a 15.39% decrease in his ownership position.
• Trane Technologies reported $3.88 earnings per share for the last quarter, surpassing analysts' expectations, despite revenue slightly below estimates.

Ballentine Partners LLC increased its stake in Trane Technologies plc (NYSE:TT - Free Report) by 46.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,458 shares of the company's stock after acquiring an additional 1,424 shares during the period. Ballentine Partners LLC's holdings in Trane Technologies were worth $1,950,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Norden Group LLC raised its stake in shares of Trane Technologies by 40.1% in the second quarter. Norden Group LLC now owns 1,034 shares of the company's stock valued at $452,000 after acquiring an additional 296 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Trane Technologies by 1.7% in the second quarter. Fifth Third Bancorp now owns 10,125 shares of the company's stock valued at $4,429,000 after acquiring an additional 173 shares in the last quarter. Oregon Pacific Wealth Management LLC acquired a new stake in Trane Technologies in the second quarter valued at $210,000. GSB Wealth Management LLC raised its stake in Trane Technologies by 7.0% in the second quarter. GSB Wealth Management LLC now owns 1,068 shares of the company's stock valued at $467,000 after buying an additional 70 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Trane Technologies in the second quarter valued at $294,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction that occurred on Tuesday, September 2nd. The shares were 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 in the company, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company's stock.

Trane Technologies Price Performance

Shares of TT opened at $404.10 on Thursday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The stock's 50 day moving average is $426.51 and its two-hundred day moving average is $402.60. The firm has a market capitalization of $89.92 billion, a PE ratio of 32.05, a P/E/G ratio of 2.52 and a beta of 1.10. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the previous year, the company earned $3.30 EPS. 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. Research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Analysts Set New Price Targets

TT has been the topic of a number of analyst reports. Northcoast Research cut Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. Robert W. Baird raised their price objective on Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Barclays dropped their price objective on Trane Technologies from $495.00 to $485.00 and set an "overweight" rating on the stock in a report on Tuesday, September 16th. Citigroup lowered their price target on Trane Technologies from $499.00 to $494.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Finally, The Goldman Sachs Group raised their price target on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $457.40.

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.

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