Clear Harbor Asset Management LLC Has $3.94 Million Stock Position in Trane Technologies plc $TT

Key Points

• Clear Harbor Asset Management LLC significantly increased its holdings in Trane Technologies by 126.8%, acquiring an additional 5,038 shares, bringing their total stake to worth approximately $3.94 million.
• Wall Street analysts have mixed ratings on Trane Technologies, with a consensus price target of $457.40, and multiple revisions to target prices following recent performance evaluations.
• CEO David S. Regnery sold 22,497 shares at an average price of $410, indicating a reduction in his holding by 15.39% amidst robust institutional ownership of 82.97% in the company.

Clear Harbor Asset Management LLC raised its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 126.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,010 shares of the company's stock after buying an additional 5,038 shares during the quarter. Clear Harbor Asset Management LLC's holdings in Trane Technologies were worth $3,941,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. WFA Asset Management Corp grew its position in shares of Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after buying an additional 50 shares during the period. Saudi Central Bank acquired a new position in shares of Trane Technologies during the 1st quarter worth about $30,000. Opal Wealth Advisors LLC bought a new position in shares of Trane Technologies during the 1st quarter valued at about $31,000. Bogart Wealth LLC lifted its holdings in shares of Trane Technologies by 97.9% during the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after purchasing an additional 46 shares in the last quarter. Finally, Tradewinds Capital Management LLC lifted its holdings in shares of Trane Technologies by 46.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after purchasing an additional 30 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on TT. Hsbc Global Res cut Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Barclays cut 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. Northcoast Research cut Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. UBS Group boosted their target price on Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Morgan Stanley boosted their target price on Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Trane Technologies has an average rating of "Hold" and a consensus target price of $457.40.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total value of $9,223,770.00. Following the transaction, the chief executive officer directly owned 123,713 shares of the company's stock, valued at $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Performance

TT traded up $0.51 during trading hours on Monday, reaching $407.09. The company's stock had a trading volume of 1,063,426 shares, compared to its average volume of 1,365,447. 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's 50-day moving average is $427.79 and its 200-day moving average is $402.57. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The firm has a market cap of $90.58 billion, a PE ratio of 32.28, a price-to-earnings-growth ratio of 2.54 and a beta of 1.10.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 EPS 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 firm 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 firm posted $3.30 EPS. The company's revenue for the quarter was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current 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.