DAVENPORT & Co LLC Grows Stock Position in Trane Technologies plc $TT

Key Points

• DAVENPORT & Co LLC increased its stake in Trane Technologies plc by 1.1%, owning 219,102 shares valued at approximately $95.6 million as of the latest SEC filing.
• Trane Technologies reported earnings of $3.88 per share for the last quarter, exceeding the consensus estimate, with a net margin of 13.76% and a revenue of $5.75 billion.
• Multiple analysts have updated their price targets for Trane Technologies, with a consensus target price of $457.40 and a mix of "Buy," "Hold," and "Sell" ratings from 17 analysts.

DAVENPORT & Co LLC lifted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 1.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 219,102 shares of the company's stock after buying an additional 2,423 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.10% of Trane Technologies worth $95,589,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TT. Csenge Advisory Group increased its holdings in shares of Trane Technologies by 0.6% during the 1st quarter. Csenge Advisory Group now owns 3,944 shares of the company's stock valued at $1,314,000 after purchasing an additional 25 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in Trane Technologies by 23.4% in the first quarter. CBIZ Investment Advisory Services LLC now owns 137 shares of the company's stock valued at $46,000 after buying an additional 26 shares in the last quarter. Fiera Capital Corp raised its position in shares of Trane Technologies by 1.4% in the first quarter. Fiera Capital Corp now owns 1,930 shares of the company's stock worth $650,000 after acquiring an additional 27 shares during the period. Old Port Advisors boosted its stake in shares of Trane Technologies by 3.7% during the 2nd quarter. Old Port Advisors now owns 754 shares of the company's stock worth $330,000 after acquiring an additional 27 shares in the last quarter. Finally, Grimes & Company Inc. grew its position in shares of Trane Technologies by 0.6% during the 2nd quarter. Grimes & Company Inc. now owns 4,531 shares of the company's stock valued at $1,982,000 after acquiring an additional 27 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Up 0.2%

Shares of NYSE:TT opened at $424.29 on Monday. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The stock has a market cap of $94.41 billion, a P/E ratio of 33.65, a PEG ratio of 2.63 and a beta of 1.12. The business has a fifty day moving average of $421.53 and a two-hundred day moving average of $407.10. 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 announced its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.77 billion. During the same quarter in the previous year, the company posted $3.30 EPS. The company's 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, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Analyst Ratings Changes

TT has been the topic of several research analyst reports. 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. UBS Group lifted their price target on shares of Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Robert W. Baird upped their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Finally, Citigroup cut their target price on shares of Trane Technologies from $499.00 to $494.00 and set a "buy" rating for the company in a research note on Wednesday, September 17th. Six research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $457.40.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the business'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 sale, the chief executive officer owned 123,713 shares in the company, valued at approximately $50,722,330. The trade was a 15.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.14% of the company's stock.

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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