HB Wealth Management LLC Buys 1,013 Shares of Trane Technologies plc $TT

Key Points

• HB Wealth Management LLC increased its stake in Trane Technologies by 14.4%, acquiring 1,013 shares, bringing its total holdings to 8,056 shares worth approximately $3.5 million.
• Institutional investors own 82.97% of Trane Technologies, with notable increases from firms like Wellington Management Group, which raised its position by 245.1%.
• The stock recently received multiple upgrades, with Goldman Sachs raising its price objective from $416 to $460 and providing a "neutral" rating, indicating growing confidence among analysts.

HB Wealth Management LLC boosted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 14.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,056 shares of the company's stock after purchasing an additional 1,013 shares during the period. HB Wealth Management LLC's holdings in Trane Technologies were worth $3,524,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of Trane Technologies during the 1st quarter valued at $877,468,000. Wellington Management Group LLP grew its position in shares of Trane Technologies by 245.1% during the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company's stock valued at $722,493,000 after acquiring an additional 1,522,933 shares during the period. JPMorgan Chase & Co. grew its position in shares of Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock valued at $5,297,235,000 after acquiring an additional 1,408,421 shares during the period. AQR Capital Management LLC grew its position in shares of Trane Technologies by 95.1% during the 1st quarter. AQR Capital Management LLC now owns 885,039 shares of the company's stock valued at $291,727,000 after acquiring an additional 431,495 shares during the period. Finally, Pictet Asset Management Holding SA grew its position in shares of Trane Technologies by 27.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company's stock valued at $645,343,000 after acquiring an additional 410,734 shares during the period. Institutional investors own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the transaction, the chief executive officer owned 123,713 shares of the company's stock, valued at $50,722,330. This represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TT. The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. UBS Group boosted their price objective on shares of Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Citigroup cut their price objective on shares of Trane Technologies from $499.00 to $494.00 and set a "buy" rating for the company in a research report on Wednesday, September 17th. Northcoast Research cut shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. Finally, Morgan Stanley lifted their target price on shares of Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Trane Technologies has an average rating of "Hold" and a consensus target price of $457.40.

Trane Technologies Stock Up 0.9%

TT opened at $425.69 on Thursday. The firm has a 50-day simple moving average of $423.26 and a two-hundred day simple moving average of $405.26. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The company has a market capitalization of $94.72 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. 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 data on Wednesday, July 30th. The company reported $3.88 EPS 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 business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the prior year, the firm earned $3.30 EPS. The business's revenue was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal 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.

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