Sound Income Strategies LLC Sells 657 Shares of Trane Technologies plc $TT

Key Points

• Sound Income Strategies LLC has decreased its stake in Trane Technologies plc by 74.2%, selling 657 shares and holding 228 shares valued at approximately $100,000.
• Several hedge funds have recently increased their positions in Trane Technologies, with WFA Asset Management boosting its stake by 208.3% in the first quarter.
• Analysts have mixed views on Trane Technologies, with recent price targets updated by firms like Royal Bank of Canada ($467) and Morgan Stanley ($520), while the majority maintain a Hold rating on the stock.

Sound Income Strategies LLC lowered its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 74.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 228 shares of the company's stock after selling 657 shares during the quarter. Sound Income Strategies LLC's holdings in Trane Technologies were worth $100,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TT. WFA Asset Management Corp boosted its position in 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 last quarter. Saudi Central Bank purchased a new position in Trane Technologies in the first quarter worth $30,000. Opal Wealth Advisors LLC purchased a new position in Trane Technologies in the first quarter worth $31,000. Bogart Wealth LLC boosted its position in Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after purchasing an additional 46 shares during the last quarter. Finally, Tradewinds Capital Management LLC boosted its position in Trane Technologies by 46.2% in the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock worth $32,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TT. Royal Bank Of Canada boosted 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. Morgan Stanley boosted their price objective on Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Northcoast Research cut Trane Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, August 1st. Hsbc Global Res cut Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Finally, The Goldman Sachs Group upped their price target on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Trane Technologies currently has a consensus rating of "Hold" and an average target price of $457.40.

Trane Technologies Stock Performance

Shares of TT opened at $422.53 on Wednesday. The stock's 50-day simple moving average is $423.94 and its 200 day simple moving average is $405.12. The stock has a market capitalization of $94.02 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. 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 quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. The business had revenue of $5.75 billion for 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%.The firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Insider Transactions at Trane Technologies

In other Trane Technologies 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 directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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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