Destiny Wealth Partners LLC Makes New $748,000 Investment in Trane Technologies plc $TT

Key Points

• Destiny Wealth Partners LLC made a new investment in Trane Technologies plc, purchasing 1,709 shares valued at approximately $748,000 in the second quarter.
• The company reported earnings per share (EPS) of $3.88 for the last quarter, exceeding analysts' estimates by $0.09.
• Trane Technologies' stock is currently rated with an average of ten "Hold" ratings and one "Sell" rating from analysts, with a target price of around $457.40.

Destiny Wealth Partners 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 Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,709 shares of the company's stock, valued at approximately $748,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after purchasing an additional 2,323 shares during the last quarter. Centaurus Financial Inc. purchased a new position in shares of Trane Technologies in the 4th quarter worth approximately $237,000. NorthCrest Asset Manangement LLC grew its holdings in shares of Trane Technologies by 6.9% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 2,978 shares of the company's stock valued at $1,100,000 after acquiring an additional 191 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Trane Technologies by 37.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 81,325 shares of the company's stock worth $30,037,000 after acquiring an additional 22,233 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Trane Technologies by 28.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 951 shares of the company's stock worth $320,000 after buying an additional 213 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Price Performance

TT stock opened at $406.70 on Friday. 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 firm has a market cap of $90.50 billion, a P/E ratio of 32.25, a P/E/G ratio of 2.51 and a beta of 1.10. The firm's fifty day moving average is $425.64 and its 200 day moving average is $403.07. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 earned $3.30 earnings per share. The company'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 predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

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 that occurred on Tuesday, September 2nd. The shares were 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 directly owned 123,713 shares in the company, valued at $50,722,330. The trade was a 15.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TT. Wells Fargo & Company lifted their price target on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Northcoast Research lowered Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. The Goldman Sachs Group lifted their price objective on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Robert W. Baird increased their target price 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. Finally, Barclays cut their price objective on shares of Trane Technologies from $495.00 to $485.00 and set an "overweight" rating for the company in a report on Tuesday, September 16th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $457.40.

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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