KLP Kapitalforvaltning AS Lowers Holdings in Trane Technologies plc $TT

Key Points

• KLP Kapitalforvaltning AS reduced its stake in Trane Technologies plc by 3.0%, selling 3,500 shares, resulting in a total holding of approximately $48.85 million.
• Several hedge funds, including Nuveen LLC and JPMorgan Chase & Co., have significantly increased their positions in Trane Technologies, with hedge funds owning approximately 82.97% of the stock.
• CEO David S. Regnery sold 22,497 shares of Trane Technologies at an average price of $410.00, reducing his ownership by 15.39%.

KLP Kapitalforvaltning AS trimmed its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 3.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 111,683 shares of the company's stock after selling 3,500 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.05% of Trane Technologies worth $48,851,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TT. Nuveen LLC purchased a new position in Trane Technologies in the first quarter worth approximately $877,468,000. Wellington Management Group LLP lifted its stake in Trane Technologies by 245.1% during the first quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company's stock worth $722,493,000 after purchasing an additional 1,522,933 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Trane Technologies by 9.8% during the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock worth $5,297,235,000 after purchasing an additional 1,408,421 shares in the last quarter. AQR Capital Management LLC lifted its stake in Trane Technologies by 95.1% during the first quarter. AQR Capital Management LLC now owns 885,039 shares of the company's stock worth $291,727,000 after purchasing an additional 431,495 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in Trane Technologies by 27.3% during the first quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company's stock worth $645,343,000 after purchasing an additional 410,734 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the firm'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 directly owned 123,713 shares in the company, valued at $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Up 0.1%

Shares of NYSE TT opened at $424.50 on Tuesday. The stock has a market cap of $94.46 billion, a P/E ratio of 33.66, a PEG ratio of 2.63 and a beta of 1.12. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The business's fifty day simple moving average is $420.57 and its 200-day simple moving average is $407.64.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.09. The business had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on TT. Wells Fargo & Company upped their price target on Trane Technologies from $410.00 to $415.00 and gave the stock an "underweight" rating in a research note on Monday. The Goldman Sachs Group upped their price target on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. HSBC cut Trane Technologies from a "buy" rating to a "hold" rating and upped their price target for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Robert W. Baird upped their price target on Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, Barclays decreased their price target on Trane Technologies from $495.00 to $485.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 16th. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $457.73.

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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