Lbp Am Sa Increases Holdings in Trane Technologies plc $TT

Key Points

• Lbp Am Sa has significantly raised its stake in Trane Technologies plc by 197.6% during the second quarter, now holding 22,719 shares valued at nearly $9.94 million.
• Trane Technologies reported $3.88 EPS for the most recent quarter, exceeding analysts' expectations, and experienced a year-over-year revenue growth of 7.6%.
• Insider activity includes CEO David S. Regnery selling 22,497 shares for over $9.22 million, marking a significant reduction in his ownership.

Lbp Am Sa lifted its position in Trane Technologies plc (NYSE:TT - Free Report) by 197.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,719 shares of the company's stock after purchasing an additional 15,084 shares during the period. Lbp Am Sa's holdings in Trane Technologies were worth $9,938,000 at the end of the most recent quarter.

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

Trane Technologies Price Performance

NYSE TT opened at $425.69 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The stock's fifty day moving average price is $423.26 and its 200 day moving average price is $405.26. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The company has a market cap of $94.72 billion, a price-to-earnings ratio of 33.76, a PEG ratio of 2.62 and a beta of 1.12.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results 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. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the firm earned $3.30 EPS. The firm'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. As a group, equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Insider Activity

In related news, CEO David S. Regnery sold 22,497 shares of the company'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 transaction, the chief executive officer directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TT has been the subject of a number of analyst reports. The Goldman Sachs Group upped their target price 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 upped their target price on Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Northcoast Research downgraded Trane Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, August 1st. Hsbc Global Res downgraded Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Finally, UBS Group upped their price target on Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Five 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.

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.