State of Alaska Department of Revenue Sells 1,230 Shares of Trane Technologies plc $TT

Key Points

• The State of Alaska Department of Revenue reduced its stake in Trane Technologies plc by 4.7%, selling 1,230 shares during the second quarter, leaving them with 25,043 shares valued at approximately $10.95 million.
• CEO David S. Regnery sold 22,497 shares of the company, representing a 15.39% decrease in his ownership, with total transactions amounting to over $9.2 million.
• Trane Technologies reported $3.88 earnings per share last quarter, surpassing estimates, and set its FY 2025 guidance at 13.050 EPS.

State of Alaska Department of Revenue trimmed its stake in Trane Technologies plc (NYSE:TT - Free Report) by 4.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,043 shares of the company's stock after selling 1,230 shares during the quarter. State of Alaska Department of Revenue's holdings in Trane Technologies were worth $10,954,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TT. WFA Asset Management Corp grew its stake 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 valued at $25,000 after buying an additional 50 shares in the last quarter. Saudi Central Bank acquired a new stake in shares of Trane Technologies in the first quarter valued at approximately $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Trane Technologies during the 1st quarter worth approximately $31,000. Bogart Wealth LLC increased its stake in shares of Trane Technologies by 97.9% in the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after purchasing an additional 46 shares during the last quarter. Finally, Tradewinds Capital Management LLC boosted its stake in Trane Technologies by 46.2% in the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after buying an additional 30 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 123,713 shares of the company's stock, valued at $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Performance

Shares of TT opened at $415.91 on Friday. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The stock has a 50 day moving average price of $425.02 and a two-hundred day moving average price of $404.08. The firm has a market capitalization of $92.55 billion, a P/E ratio of 32.98, a P/E/G ratio of 2.58 and a beta of 1.10.

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

Analyst Ratings Changes

A number of research analysts have recently commented on TT shares. Wells Fargo & Company increased their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Citigroup decreased their price objective on Trane Technologies from $499.00 to $494.00 and set a "buy" rating for the company in a report on Wednesday, September 17th. Morgan Stanley raised 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. UBS Group boosted their price objective on Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price 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.

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