Quarry LP Trims Position in Trane Technologies plc $TT

Key Points

• Quarry LP significantly cut its holdings in Trane Technologies plc by 69.5% in Q1, leaving it with 496 shares valued at $167,000.
• Trane Technologies reported Q2 earnings of $3.88 per share, exceeding analyst expectations and showing a 7.6% revenue increase from the same quarter last year.
• The company declared a quarterly dividend of $0.94 per share, resulting in a 0.9% dividend yield for investors.

Quarry LP cut its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 69.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 496 shares of the company's stock after selling 1,132 shares during the quarter. Quarry LP's holdings in Trane Technologies were worth $167,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of TT. CWA Asset Management Group LLC boosted its holdings in Trane Technologies by 19.2% in the 1st quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock worth $382,000 after buying an additional 183 shares during the period. Ethic Inc. grew its position in shares of Trane Technologies by 150.1% in the fourth quarter. Ethic Inc. now owns 24,883 shares of the company's stock valued at $9,190,000 after purchasing an additional 14,932 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after purchasing an additional 2,323 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Trane Technologies by 495.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company's stock worth $1,433,000 after purchasing an additional 3,538 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Trane Technologies by 13.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,141 shares of the company's stock valued at $3,417,000 after buying an additional 1,198 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. UBS Group boosted their price target on shares of Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Royal Bank Of Canada increased their price objective on Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. HSBC cut Trane Technologies from a "buy" rating to a "hold" rating and boosted their target price for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. Finally, Northcoast Research cut Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $458.60.

Trane Technologies Price Performance

TT stock traded up $4.54 during mid-day trading on Thursday, hitting $412.85. 1,243,725 shares of the stock were exchanged, compared to its average volume of 1,033,229. The business has a fifty day moving average price of $434.39 and a 200 day moving average price of $397.24. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The stock has a market capitalization of $91.86 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 2.55 and a beta of 1.10.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.79 by $0.09. The company had revenue of $5.75 billion for 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 quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $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 EPS for the current year.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction 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 completion of the sale, the chief executive officer owned 123,713 shares of the company's stock, valued at $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is owned by corporate insiders.

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.