OLD National Bancorp IN Makes New Investment in Trane Technologies plc $TT

Key Points

• OLD National Bancorp IN has acquired a new position in Trane Technologies plc, purchasing 20,624 shares valued at approximately $9,021,000 during the second quarter.
• Wall Street analysts generally hold a mixed outlook on Trane Technologies, with the stock receiving six "Buy" ratings, ten "Hold" ratings, and one "Sell" rating, along with an average price target of $457.40.
• CEO David Regnery recently sold 22,497 shares of Trane Technologies at an average price of $410.00, significantly reducing his ownership in the company.

OLD National Bancorp IN purchased a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,624 shares of the company's stock, valued at approximately $9,021,000.

Other hedge funds also recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new position in Trane Technologies during the second quarter worth $28,000. WFA Asset Management Corp increased its position in Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after buying an additional 50 shares in the last quarter. Saudi Central Bank purchased a new position in Trane Technologies during the first quarter worth $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Trane Technologies in the first quarter valued at $31,000. Finally, Bogart Wealth LLC increased its stake in Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after purchasing an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

TT has been the subject of several analyst reports. Citigroup dropped their target price on Trane Technologies from $499.00 to $494.00 and set a "buy" rating for the company in a research note on Wednesday, September 17th. Barclays dropped their target price on Trane Technologies from $495.00 to $485.00 and set an "overweight" rating for the company in a research note on Tuesday, September 16th. HSBC lowered Trane Technologies from a "buy" rating to a "hold" rating and upped their target price for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Royal Bank Of Canada upped their target price on Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Finally, Wells Fargo & Company upped their target price on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $457.40.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the transaction, the chief executive officer owned 123,713 shares in the company, valued at $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 SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Price Performance

TT stock opened at $424.29 on Friday. The stock has a 50-day moving average price of $421.53 and a two-hundred day moving average price of $406.70. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company has a market cap 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.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 36.61% and a net margin of 13.76%.The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

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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