Trane Technologies plc $TT Position Boosted by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. increased its stake in Trane Technologies plc by 39.5%, holding 64,005 shares valued at nearly $28 million after acquiring an additional 18,121 shares.
• CEO David S. Regnery sold 22,497 shares of Trane Technologies for approximately $9.2 million, reducing his ownership by 15.39%.
• Analysts have set a consensus target price for Trane Technologies at $457.40, with several firms issuing buy ratings and notable upgrades to their price targets.

QRG Capital Management Inc. raised its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 39.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,005 shares of the company's stock after acquiring an additional 18,121 shares during the quarter. QRG Capital Management Inc.'s holdings in Trane Technologies were worth $27,996,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Ascent Group LLC grew its stake in Trane Technologies by 2.1% during the 2nd quarter. Ascent Group LLC now owns 13,492 shares of the company's stock valued at $5,902,000 after acquiring an additional 282 shares in the last quarter. Consilium Wealth Advisory LLC grew its stake in Trane Technologies by 558.3% during the 2nd quarter. Consilium Wealth Advisory LLC now owns 45,713 shares of the company's stock valued at $19,995,000 after acquiring an additional 38,769 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Trane Technologies by 9.1% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,594 shares of the company's stock valued at $697,000 after acquiring an additional 133 shares in the last quarter. Abacus Planning Group Inc. grew its stake in Trane Technologies by 20.2% during the 2nd quarter. Abacus Planning Group Inc. now owns 767 shares of the company's stock valued at $335,000 after acquiring an additional 129 shares in the last quarter. Finally, Hilltop National Bank acquired a new position in Trane Technologies in the 2nd quarter worth about $2,805,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was 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 $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TT has been the topic of several research reports. UBS Group upped their target price on Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Royal Bank Of Canada upped their target price 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. The Goldman Sachs Group upped their target price on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Wells Fargo & Company upped their target price on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Finally, Northcoast Research lowered Trane Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, August 1st. Six 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.com, the stock has a consensus rating of "Hold" and a consensus target price of $457.40.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $424.29 on Friday. 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 firm has a market cap of $94.41 billion, a price-to-earnings ratio of 33.65, a P/E/G ratio of 2.63 and a beta of 1.12. The business's 50-day simple moving average is $421.53 and its 200-day simple moving average is $406.31. 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 EPS for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm's revenue for the quarter 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. As a group, equities research analysts expect 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.

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