Mirae Asset Global Investments Co. Ltd. Sells 40,000 Shares of Trane Technologies plc $TT

Key Points

• Mirae Asset Global Investments Co. Ltd. sold 40,000 shares of Trane Technologies, reducing its holdings by 40.8%, now owning 58,028 shares valued at approximately $25.38 million.
• Trane Technologies reported an EPS of $3.88 for the last quarter, exceeding estimates by $0.09, with a 7.6% year-over-year revenue increase.
• Analysts have mixed ratings on Trane Technologies, with a current average target price of $457.40 and several firms adjusting their ratings following earnings reports.

Mirae Asset Global Investments Co. Ltd. cut its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 40.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,028 shares of the company's stock after selling 40,000 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Trane Technologies were worth $25,382,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Trane Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company's stock valued at $6,555,377,000 after acquiring an additional 221,206 shares in the last quarter. JPMorgan Chase & Co. increased its position in Trane Technologies by 9.8% in the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock worth $5,297,235,000 after buying an additional 1,408,421 shares during the last quarter. Ameriprise Financial Inc. increased its position in Trane Technologies by 7.2% in the first quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company's stock worth $1,208,044,000 after buying an additional 241,910 shares during the last quarter. Nuveen LLC purchased a new stake in Trane Technologies in the first quarter worth $877,468,000. Finally, Northern Trust Corp increased its position in Trane Technologies by 0.7% in the first quarter. Northern Trust Corp now owns 2,584,819 shares of the company's stock worth $870,877,000 after buying an additional 17,292 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Trading Up 0.2%

Shares of TT stock opened at $424.29 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The company has a market capitalization of $94.41 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 2.63 and a beta of 1.12. The business's fifty day moving average is $421.53 and its 200 day moving average is $406.31.

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

Insider Activity

In related news, CEO David S. Regnery sold 22,497 shares of the 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 owned 123,713 shares in the company, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TT. Morgan Stanley raised their target price on Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Barclays decreased their target price on Trane Technologies from $495.00 to $485.00 and set an "overweight" rating for the company in a research report on Tuesday, September 16th. UBS Group raised their price target on Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Wells Fargo & Company raised their price target on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Trane Technologies in a report on Saturday, September 27th. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $457.40.

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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