PGGM Investments Acquires 63,282 Shares of Trane Technologies plc $TT

Key Points

• PGGM Investments significantly increased its stake in Trane Technologies plc by 93.3% during Q2, acquiring an additional 63,282 shares, bringing its total to 131,114 shares valued at approximately $57.35 million.
• Trane Technologies reported a $3.88 EPS for the last quarter, exceeding analysts' expectations, with revenue slightly below forecasts at $5.75 billion.
• Analysts have differing views on Trane Technologies, with price targets ranging from $445.00 to $520.00, reflecting a consensus rating of "Hold" and a price target of $457.40.

PGGM Investments increased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 93.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 131,114 shares of the company's stock after purchasing an additional 63,282 shares during the quarter. PGGM Investments owned approximately 0.06% of Trane Technologies worth $57,351,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TT. Nuveen LLC purchased a new position in Trane Technologies during the first quarter worth about $877,468,000. Wellington Management Group LLP boosted its holdings in Trane Technologies by 245.1% during the first quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company's stock worth $722,493,000 after purchasing an additional 1,522,933 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Trane Technologies by 9.8% during the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock worth $5,297,235,000 after purchasing an additional 1,408,421 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Trane Technologies by 95.1% during the first quarter. AQR Capital Management LLC now owns 885,039 shares of the company's stock worth $291,727,000 after purchasing an additional 431,495 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in Trane Technologies by 27.3% during the first quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company's stock worth $645,343,000 after purchasing an additional 410,734 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

Shares of TT stock opened at $422.53 on Wednesday. The stock has a market capitalization of $94.02 billion, a P/E ratio of 33.51, a PEG ratio of 2.57 and a beta of 1.10. 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 firm's 50 day moving average is $423.94 and its 200 day moving average is $405.12. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TT shares. Morgan Stanley boosted their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. HSBC cut shares of Trane Technologies from a "buy" rating to a "hold" rating and boosted their target price for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Robert W. Baird boosted their target price on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, Barclays dropped their target price on shares of Trane Technologies from $495.00 to $485.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 16th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Trane Technologies has a consensus rating of "Hold" and a consensus price target of $457.40.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 123,713 shares in the company, valued at approximately $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.14% of the company's stock.

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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