California State Teachers Retirement System Purchases 161,671,768 Shares of Trane Technologies plc $TT

Key Points

• California State Teachers Retirement System dramatically increased its Trane Technologies stake by acquiring 161.7 million shares in the second quarter, bringing its ownership to approximately 73.6% of the company. Institutional investors and hedge funds collectively own 82.97% of TT.
• Analysts maintain a generally positive outlook, with Trane Technologies receiving a consensus “Moderate Buy” rating and an average price target of $521.50, despite some recent target reductions and downgrades.
• Trane Technologies exceeded quarterly expectations, reporting adjusted EPS of $4.31 and revenue of $6.35 billion, with revenue rising 10.6% year over year. The CEO separately sold 43,778 shares for approximately $20.8 million under a pre-arranged trading plan.

California State Teachers Retirement System increased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 47,507.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,012,073 shares of the company's stock after acquiring an additional 161,671,768 shares during the period. California State Teachers Retirement System owned about 73.63% of Trane Technologies worth $79,573,850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TT. Brighton Jones LLC lifted its position in shares of Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after buying an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC raised its stake in Trane Technologies by 22.4% during the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company's stock worth $728,000 after acquiring an additional 305 shares in the last quarter. Schnieders Capital Management LLC. acquired a new position in Trane Technologies during the second quarter worth about $227,000. Nebula Research & Development LLC lifted its holdings in shares of Trane Technologies by 178.0% in the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company's stock worth $1,037,000 after acquiring an additional 1,518 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Trane Technologies by 0.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company's stock valued at $45,552,000 after purchasing an additional 497 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TT shares. Royal Bank Of Canada lowered their price objective on shares of Trane Technologies from $501.00 to $496.00 and set a "sector perform" rating for the company in a research report on Friday, July 31st. Wall Street Zen cut shares of Trane Technologies from a "buy" rating to a "hold" rating in a research note on Sunday, August 30th. Sanford C. Bernstein upped their price target on shares of Trane Technologies from $555.00 to $575.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Citigroup dropped their price target on Trane Technologies from $570.00 to $566.00 and set a "buy" rating for the company in a research note on Friday, July 31st. Finally, Weiss Ratings downgraded Trane Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Trane Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $521.50.

Trane Technologies Stock Up 0.2%

Trane Technologies stock opened at $448.76 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.76 and a current ratio of 1.07. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $505.87. The firm has a 50 day moving average price of $468.65 and a two-hundred day moving average price of $460.59. The firm has a market cap of $98.74 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 2.14 and a beta of 1.19.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $4.31 EPS for the quarter, beating analysts' consensus estimates of $4.27 by $0.04. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period in the prior year, the firm posted $3.88 EPS. The company's quarterly revenue was up 10.6% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. Equities analysts predict that Trane Technologies plc will post 15.31 EPS for the current year.

Insider Buying and Selling

In other news, CEO David Regnery sold 43,778 shares of Trane Technologies stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $475.00, for a total value of $20,794,550.00. Following the completion of the transaction, the chief executive officer directly owned 96,950 shares of the company's stock, valued at approximately $46,051,250. This trade represents a 31.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company's stock.

Trane Technologies Company Profile

Trane Technologies NYSE: TT is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.

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