PDT Partners LLC Increases Stock Position in Trane Technologies plc $TT

Key Points

• PDT Partners LLC significantly increased its stake in Trane Technologies plc by 240.0% during the first quarter, now owning 8,500 shares valued at approximately $2.86 million.
• Trane Technologies recently reported an EPS of $3.88 for the last quarter, surpassing expectations and showing a 7.6% revenue increase year-over-year.
• The company declared a quarterly dividend of $0.94, with the upcoming payment on September 30th, representing an annualized yield of 0.9%.

PDT Partners LLC increased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 240.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,500 shares of the company's stock after acquiring an additional 6,000 shares during the quarter. PDT Partners LLC's holdings in Trane Technologies were worth $2,864,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of TT. Nuveen LLC acquired a new stake in Trane Technologies during the first quarter worth approximately $877,468,000. GAMMA Investing LLC boosted its position in Trane Technologies by 35,458.2% during the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock worth $679,161,000 after acquiring an additional 2,010,123 shares during the last quarter. Wellington Management Group LLP boosted its position in Trane Technologies by 245.1% during the first quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company's stock worth $722,493,000 after acquiring an additional 1,522,933 shares during the last quarter. JPMorgan Chase & Co. raised its stake in 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 purchasing an additional 1,408,421 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in Trane Technologies by 27.3% during the first quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company's stock worth $645,343,000 after purchasing an additional 410,734 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Morgan Stanley increased their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. UBS Group increased their price target on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Wells Fargo & Company increased their price target on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Five equities 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's stock. According to MarketBeat.com, Trane Technologies presently has a consensus rating of "Hold" and a consensus price target of $458.60.

Trane Technologies Stock Up 1.1%

NYSE TT traded up $4.54 during trading hours on Thursday, hitting $412.85. The company had a trading volume of 1,243,725 shares, compared to its average volume of 1,033,229. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The company has a market capitalization of $91.86 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 2.55 and a beta of 1.10. 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 firm's 50 day moving average is $434.39 and its 200 day moving average is $397.24.

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, beating the consensus estimate of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the firm earned $3.30 EPS. The firm's quarterly 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. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the completion of the transaction, the chief executive officer directly owned 123,713 shares in the company, valued at approximately $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.14% of the company's stock.

Trane Technologies 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.