Strs Ohio Invests $28.52 Million in Trane Technologies plc $TT

Key Points

• Strs Ohio acquired a new stake in Trane Technologies plc worth approximately $28.5 million, adding 84,649 shares in the first quarter of 2023.
• CEO David S. Regnery sold 22,497 shares for over $9.2 million, resulting in a 15.39% decrease in his ownership position.
• Analysts have mixed ratings for Trane Technologies, with five "Buy" ratings, ten "Hold" ratings, and a consensus target price of $458.60.

Strs Ohio acquired a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 84,649 shares of the company's stock, valued at approximately $28,520,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWA Asset Management Group LLC increased its holdings in Trane Technologies by 19.2% in the first quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock valued at $382,000 after purchasing an additional 183 shares during the last quarter. Nippon Life Global Investors Americas Inc. grew its stake in Trane Technologies by 17.5% in the first quarter. Nippon Life Global Investors Americas Inc. now owns 3,090 shares of the company's stock valued at $1,041,000 after acquiring an additional 460 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Trane Technologies by 350.3% during the first quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company's stock worth $7,140,000 after buying an additional 16,485 shares during the period. Brighton Jones LLC boosted its position in shares of Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after buying an additional 2,323 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Trane Technologies by 495.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company's stock worth $1,433,000 after buying an additional 3,538 shares during the period. Institutional investors own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of Trane Technologies 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 directly owned 123,713 shares in the company, valued at approximately $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on TT. Morgan Stanley upped their price objective on Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. HSBC downgraded Trane Technologies from a "buy" rating to a "hold" rating and raised their price objective for the company from $415.00 to $460.00 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 stock a "buy" rating in a report on Tuesday, August 5th. The Goldman Sachs Group increased their price objective on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada raised their price target on Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $458.60.

Trane Technologies Price Performance

Trane Technologies stock traded down $13.91 during mid-day trading on Friday, hitting $400.97. The stock had a trading volume of 1,563,705 shares, compared to its average volume of 1,195,808. The firm's 50 day moving average is $431.51 and its 200 day moving average is $400.19. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. The firm has a market capitalization of $89.22 billion, a P/E ratio of 31.80, a P/E/G ratio of 2.50 and a beta of 1.10. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

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

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.