Pallas Capital Advisors LLC Has $3.05 Million Position in Trane Technologies plc $TT

Key Points

• Pallas Capital Advisors LLC has reduced its stake in Trane Technologies plc by 12.5%, holding 6,971 shares valued at approximately $3.05 million.
• CEO David S. Regnery sold 22,497 shares at an average price of $410.00, decreasing his ownership by 15.39%.
• Wall Street analysts have a consensus rating of "Hold" on Trane Technologies with a price target of $457.40, reflecting various analysts' upgrades and downgrades recently.

Pallas Capital Advisors LLC lessened its stake in Trane Technologies plc (NYSE:TT - Free Report) by 12.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,971 shares of the company's stock after selling 998 shares during the period. Pallas Capital Advisors LLC's holdings in Trane Technologies were worth $3,049,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TT. CWA Asset Management Group LLC grew its stake in Trane Technologies by 19.2% during the 1st quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock valued at $382,000 after purchasing an additional 183 shares in the last quarter. OMNI 360 Wealth Inc. acquired a new position in shares of Trane Technologies during the second quarter valued at about $345,000. Jones Financial Companies Lllp increased its holdings in shares of 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 in the last quarter. Nippon Life Global Investors Americas Inc. boosted its stake in Trane Technologies by 17.5% in the first quarter. Nippon Life Global Investors Americas Inc. now owns 3,090 shares of the company's stock valued at $1,041,000 after acquiring an additional 460 shares during the last quarter. Finally, BROOKFIELD Corp ON raised its holdings in shares of 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 acquiring an additional 812 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of the company's stock in a transaction dated 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 owned 123,713 shares in the company, valued at $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

TT has been the subject of several recent research reports. HSBC cut shares of Trane Technologies from a "buy" rating to a "hold" rating and upped their price target for the company from $415.00 to $460.00 in a research report on Thursday, July 31st. Northcoast Research downgraded shares of Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. Robert W. Baird upped their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. UBS Group raised their target price on Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Morgan Stanley boosted their target price on Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $457.40.

Trane Technologies Stock Performance

Shares of TT traded up $4.44 during mid-day trading on Friday, hitting $406.93. 2,322,884 shares of the company traded hands, compared to its average volume of 1,299,819. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The stock has a 50-day moving average price of $428.42 and a two-hundred day moving average price of $401.72. The stock has a market cap of $90.55 billion, a price-to-earnings ratio of 32.27, a P/E/G ratio of 2.54 and a beta of 1.10.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results 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%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Equities analysts anticipate 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.