Counterpoint Mutual Funds LLC Buys New Position in Trane Technologies plc $TT

Key Points

• Counterpoint Mutual Funds LLC purchased a new stake in Trane Technologies plc, buying 672 shares valued at approximately $294,000 in the 2nd quarter.
• Trane Technologies has seen a variety of interest from institutional investors, with hedge funds owning 82.97% of the company's stock.
• Analysts have given Trane Technologies a consensus rating of "Hold" with a target price of $457.40, reflecting a range of ratings from various firms.

Counterpoint Mutual Funds LLC purchased a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 672 shares of the company's stock, valued at approximately $294,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kooman & Associates purchased a new stake in Trane Technologies in the 2nd quarter valued at about $253,000. CHICAGO TRUST Co NA grew its holdings in Trane Technologies by 7.3% in the 2nd quarter. CHICAGO TRUST Co NA now owns 4,481 shares of the company's stock valued at $1,960,000 after buying an additional 305 shares during the period. Foster Group Inc. grew its holdings in Trane Technologies by 1.6% in the 2nd quarter. Foster Group Inc. now owns 2,879 shares of the company's stock valued at $1,259,000 after buying an additional 46 shares during the period. GAMMA Investing LLC grew its holdings in Trane Technologies by 8.1% in the 2nd quarter. GAMMA Investing LLC now owns 6,467 shares of the company's stock valued at $2,829,000 after buying an additional 484 shares during the period. Finally, Clear Harbor Asset Management LLC grew its holdings in Trane Technologies by 126.8% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 9,010 shares of the company's stock valued at $3,941,000 after buying an additional 5,038 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on TT. Wells Fargo & Company lifted 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. Hsbc Global Res cut Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Morgan Stanley boosted their target price on Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. The Goldman Sachs Group boosted their target price on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Finally, Citigroup decreased their target price on Trane Technologies from $499.00 to $494.00 and set a "buy" rating for the company in a report on Wednesday, September 17th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $457.40.

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 123,713 shares in the company, valued at $50,722,330. This represents a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Down 0.3%

NYSE TT opened at $404.10 on Thursday. The stock has a market cap of $89.92 billion, a PE ratio of 32.05, a P/E/G ratio of 2.52 and a beta of 1.10. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The business has a 50 day moving average price of $426.51 and a two-hundred day moving average price of $402.60. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT - Get Free Report) last released 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. The firm had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.Trane Technologies's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

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.

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