Engineers Gate Manager LP Sells 50,738 Shares of Trane Technologies plc $TT

Key Points

• Engineers Gate Manager LP cut its Trane Technologies stake by 89.9% in the second quarter, selling 50,738 shares and retaining 5,711 shares valued at approximately $2.8 million.
• Institutional investors own 82.97% of Trane Technologies, while analyst sentiment remains positive with a consensus “Moderate Buy” rating and an average price target of $521.50.
• Trane Technologies reported quarterly earnings of $4.31 per share and revenue of $6.35 billion, exceeding estimates; revenue increased 10.6% year over year.

Engineers Gate Manager LP lessened its position in Trane Technologies plc (NYSE:TT - Free Report) by 89.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,711 shares of the company's stock after selling 50,738 shares during the period. Engineers Gate Manager LP's holdings in Trane Technologies were worth $2,805,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in shares of Trane Technologies by 15.2% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,150 shares of the company's stock valued at $565,000 after purchasing an additional 152 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in Trane Technologies by 129.2% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 14,710 shares of the company's stock worth $7,225,000 after buying an additional 8,291 shares in the last quarter. RFG Advisory LLC raised its position in Trane Technologies by 13.1% in the 2nd quarter. RFG Advisory LLC now owns 4,731 shares of the company's stock worth $2,324,000 after buying an additional 548 shares during the last quarter. NewEdge Advisors LLC raised its position in Trane Technologies by 3.4% in the 2nd quarter. NewEdge Advisors LLC now owns 44,647 shares of the company's stock worth $21,929,000 after buying an additional 1,478 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its stake in Trane Technologies by 7.6% during the 2nd quarter. Baird Financial Group Inc. now owns 11,368 shares of the company's stock valued at $5,584,000 after acquiring an additional 804 shares during the period. Institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

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

Trane Technologies Stock Performance

Shares of NYSE TT opened at $425.81 on Tuesday. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87. The firm has a market capitalization of $93.69 billion, a price-to-earnings ratio of 32.26, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $463.65 and a 200 day moving average of $459.64.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $4.31 earnings per share for the quarter, topping the consensus estimate of $4.27 by $0.04. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same period last year, the firm earned $3.88 earnings per share. 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. On average, research analysts anticipate that Trane Technologies plc will post 15.31 earnings per share for the current year.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David Regnery sold 43,778 shares of the company's 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 sale, the chief executive officer owned 96,950 shares in the company, valued at $46,051,250. This represents a 31.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company's stock.

Trane Technologies Company Profile

Trane Technologies plc is a global climate-focused company that designs, manufactures and services solutions for heating, ventilation and air conditioning (HVAC), as well as transport refrigeration. Its offerings include commercial and residential HVAC systems, building controls, energy-efficiency solutions, aftermarket services and parts, and related building-management technologies.

The company also serves the transportation market through refrigeration and temperature-control systems for trucks, trailers, rail cars and other applications.

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