Procyon Advisors LLC Sells 679 Shares of Trane Technologies plc $TT

Key Points

• Procyon Advisors LLC sold 679 shares of Trane Technologies plc, reducing its stake by 52.3%, ultimately holding 620 shares worth approximately $271,000.
• Trane Technologies reported earnings of $3.88 per share for the quarter, surpassing expectations, with a net revenue of $5.75 billion amid a year-over-year revenue increase of 7.6%.
• Institutional investors own 82.97% of Trane Technologies' stock, indicating a high level of institutional interest in the company.

Procyon Advisors LLC decreased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 52.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 620 shares of the company's stock after selling 679 shares during the period. Procyon Advisors LLC's holdings in Trane Technologies were worth $271,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. WFA Asset Management Corp increased its position in shares of Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after purchasing an additional 50 shares during the period. Saudi Central Bank acquired a new stake in shares of Trane Technologies during the first quarter valued at about $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Trane Technologies during the first quarter valued at about $31,000. Bogart Wealth LLC boosted its stake in shares of Trane Technologies by 97.9% during 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 in the last quarter. Finally, Tradewinds Capital Management LLC boosted its stake in shares of Trane Technologies by 46.2% during the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction that occurred 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 completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company's stock.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded up $2.61 during trading on Tuesday, hitting $410.24. 146,547 shares of the stock traded hands, compared to its average volume of 1,443,572. 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 stock has a market cap of $91.28 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 2.54 and a beta of 1.10. The firm's fifty day moving average is $427.79 and its 200-day moving average is $402.57. 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 issued its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.09. The company had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.Trane Technologies's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Analyst Ratings Changes

TT has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. UBS Group lifted their target price on Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Robert W. Baird lifted their target price on Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. HSBC downgraded Trane Technologies from a "buy" rating to a "hold" rating and lifted their target price for the stock from $415.00 to $460.00 in a report on Thursday, July 31st. Finally, Wells Fargo & Company boosted their price objective on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Five 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 stock. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of "Hold" and a consensus price target 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.