Janney Montgomery Scott LLC Increases Stake in Trane Technologies plc $TT

Key Points

• Janney Montgomery Scott LLC has increased its stake in Trane Technologies plc by 2.7%, owning 96,038 shares valued at approximately $42 million.
• Trane Technologies' stock price is currently at $422.53, with a twelve-month high of $476.18 and a market capitalization of $94.02 billion.
• The company exceeded earnings expectations for the last quarter, reporting $3.88 earnings per share against a consensus estimate of $3.79.

Janney Montgomery Scott LLC raised its stake in Trane Technologies plc (NYSE:TT - Free Report) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,038 shares of the company's stock after buying an additional 2,533 shares during the period. Janney Montgomery Scott LLC's holdings in Trane Technologies were worth $42,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in TT. CWA Asset Management Group LLC lifted its holdings in shares of Trane Technologies by 19.2% during the 1st quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock valued at $382,000 after purchasing an additional 183 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new position in Trane Technologies in the second quarter valued at approximately $345,000. Jones Financial Companies Lllp lifted its stake in shares of Trane Technologies by 350.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company's stock valued at $7,140,000 after purchasing an additional 16,485 shares during the period. Nippon Life Global Investors Americas Inc. boosted its stake in shares of Trane Technologies by 17.5% during the 1st quarter. Nippon Life Global Investors Americas Inc. now owns 3,090 shares of the company's stock worth $1,041,000 after acquiring an additional 460 shares in the last quarter. Finally, BROOKFIELD Corp ON grew its holdings in Trane Technologies by 11.0% in the first quarter. BROOKFIELD Corp ON now owns 8,227 shares of the company's stock valued at $2,772,000 after purchasing an additional 812 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Performance

NYSE:TT opened at $422.53 on Wednesday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $423.94 and a two-hundred day moving average price of $405.12. The company has a market capitalization of $94.02 billion, a P/E ratio of 33.51, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10.

Trane Technologies (NYSE:TT - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the previous year, the company posted $3.30 EPS. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Trane Technologies

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 owned by insiders.

Analysts Set New Price Targets

TT has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. HSBC cut Trane Technologies from a "buy" rating to a "hold" rating and raised their target price for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Hsbc Global Res cut shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Barclays cut their price target on shares of Trane Technologies from $495.00 to $485.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 16th. Finally, Northcoast Research cut Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $457.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.