Merit Financial Group LLC Grows Holdings in Trane Technologies plc $TT

Key Points

• Merit Financial Group LLC increased its stake in Trane Technologies plc by 10.6% during the second quarter, now owning 7,572 shares valued at approximately $3.31 million.
• Wall Street analysts have varied opinions on Trane Technologies, with recent price targets ranging from $415 to $485, and a consensus rating of "Hold" at a target price of $457.73.
• CEO David S. Regnery sold 22,497 shares at an average price of $410.00, reducing his ownership by 15.39% and resulting in direct holdings worth about $50.72 million post-sale.

Merit Financial Group LLC raised its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 10.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,572 shares of the company's stock after buying an additional 724 shares during the quarter. Merit Financial Group LLC's holdings in Trane Technologies were worth $3,312,000 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 the stock. Vanguard Group Inc. grew its holdings in Trane Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company's stock valued at $6,555,377,000 after buying an additional 221,206 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in 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 buying an additional 1,408,421 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Trane Technologies by 7.2% during the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company's stock valued at $1,208,044,000 after buying an additional 241,910 shares in the last quarter. Nuveen LLC purchased a new stake in Trane Technologies during the 1st quarter valued at approximately $877,468,000. Finally, Northern Trust Corp grew its holdings in Trane Technologies by 0.7% during the 1st quarter. Northern Trust Corp now owns 2,584,819 shares of the company's stock valued at $870,877,000 after buying an additional 17,292 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TT. Wells Fargo & Company increased their price objective on shares of Trane Technologies from $410.00 to $415.00 and gave the company an "underweight" rating in a report on Monday. HSBC lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and raised their target price for the company from $415.00 to $460.00 in a report on Thursday, July 31st. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Weiss Ratings reissued a "buy (b)" rating on shares of Trane Technologies in a report on Saturday, September 27th. Finally, Barclays cut their target price on shares of Trane Technologies from $495.00 to $485.00 and set an "overweight" rating for the company in a report on Tuesday, September 16th. Six 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $457.73.

Insider Activity

In other news, CEO David S. Regnery sold 22,497 shares of the business's stock in a transaction on 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 sale, the chief executive officer directly owned 123,713 shares of the company's stock, valued at approximately $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company's stock.

Trane Technologies Stock Down 0.4%

NYSE TT opened at $422.93 on Wednesday. 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 company has a fifty day moving average of $419.60 and a two-hundred day moving average of $407.75. The firm has a market capitalization of $94.11 billion, a price-to-earnings ratio of 33.54, a PEG ratio of 2.64 and a beta of 1.12. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18.

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