MBB Public Markets I LLC Purchases New Shares in Trane Technologies plc $TT

Key Points

• MBB Public Markets I LLC acquired a new stake in Trane Technologies plc valued at approximately $305,000, purchasing 906 shares during the first quarter.
• Notable institutional investors, including Nuveen LLC and GAMMA Investing LLC, have significantly increased their stakes in Trane Technologies, indicating strong institutional interest, with a reported 82.97% of the stock owned by institutional investors.
• Research analysts have mixed views on Trane Technologies, with five rating it as a Buy, ten as Hold, and one as Sell, and a consensus price target of $458.60.

MBB Public Markets I LLC purchased a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 906 shares of the company's stock, valued at approximately $305,000.

A number of other large investors also recently made changes to their positions in TT. Nuveen LLC bought a new position in shares of Trane Technologies during the first quarter valued at about $877,468,000. GAMMA Investing LLC lifted its position in shares of Trane Technologies by 35,458.2% during the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock valued at $679,161,000 after purchasing an additional 2,010,123 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Trane Technologies by 245.1% during the first quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company's stock valued at $722,493,000 after purchasing an additional 1,522,933 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Trane Technologies by 9.8% during the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock valued at $5,297,235,000 after purchasing an additional 1,408,421 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Trane Technologies by 95.1% during the first quarter. AQR Capital Management LLC now owns 885,039 shares of the company's stock valued at $291,727,000 after purchasing an additional 431,495 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group raised their price target 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. The Goldman Sachs Group raised their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Northcoast Research downgraded shares of Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and raised their price objective for the stock from $415.00 to $460.00 in a report on Thursday, July 31st. Finally, Royal Bank Of Canada raised their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $458.60.

Trane Technologies Price Performance

TT opened at $417.12 on Thursday. The company has a market capitalization of $92.81 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 2.55 and a beta of 1.10. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $432.76 and a 200-day moving average price of $398.63. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.09. The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The company's revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Equities analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction dated Tuesday, September 2nd. The shares were 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 trade represents a 15.39% decrease in their ownership of the stock. 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 insiders.

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.

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