SCS Capital Management LLC Makes New Investment in Trane Technologies plc $TT

Key Points

• SCS Capital Management LLC has acquired a new position in Trane Technologies plc, investing approximately $376,000 for 1,117 shares.
• A variety of institutional investors have significantly increased their holdings in Trane Technologies, resulting in institutional ownership reaching 82.97% of the company’s stock.
• Research analysts' ratings on Trane Technologies vary, with an average rating of "Hold" and a consensus target price of $458.60, following recent upgrades by several firms.

SCS Capital Management LLC bought a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,117 shares of the company's stock, valued at approximately $376,000.

Several other large investors have also recently modified their holdings of the business. Nuveen LLC bought a new stake in shares of Trane Technologies in the first quarter worth $877,468,000. GAMMA Investing LLC grew its position in shares of Trane Technologies by 35,458.2% in the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock valued at $679,161,000 after buying an additional 2,010,123 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Trane Technologies by 245.1% in the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company's stock valued at $722,493,000 after buying an additional 1,522,933 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of 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 acquiring an additional 1,408,421 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Trane Technologies by 95.1% in the first quarter. AQR Capital Management LLC now owns 885,039 shares of the company's stock worth $291,727,000 after acquiring an additional 431,495 shares during the period. Institutional investors own 82.97% of the company's stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the business's 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 in the company, valued at approximately $50,722,330. The trade was a 15.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TT shares. Robert W. Baird increased their target price on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Royal Bank Of Canada increased their price objective on shares of 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 Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Wells Fargo & Company upped their price target on shares of Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Finally, UBS Group lifted their price objective on Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. 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 company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $458.60.

Trane Technologies Stock Down 3.4%

Shares of TT stock traded down $13.91 on Friday, reaching $400.97. 1,563,705 shares of the company were exchanged, compared to its average volume of 1,195,808. 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 company has a 50-day moving average of $431.51 and a 200-day moving average of $399.80. The company has a market cap of $89.22 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 2.50 and a beta of 1.10. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18.

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 for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the business earned $3.30 EPS. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Analysts anticipate that Trane Technologies plc will post 12.83 earnings per share 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.