Alliancebernstein L.P. Boosts Stock Position in Trane Technologies plc $TT

Key Points

• AllianceBernstein L.P. has increased its stake in Trane Technologies plc by 0.4%, now owning 235,447 shares valued at approximately $79.3 million.
• Analysts' ratings for Trane Technologies have varied, with ratings ranging from "Buy" to "Sell", alongside an average target price of $458.60.
• Trane Technologies reported earnings of $3.88 EPS for the last quarter, exceeding estimates, while their quarterly revenue increased by 7.6% year-over-year.

Alliancebernstein L.P. grew its stake in Trane Technologies plc (NYSE:TT - Free Report) by 0.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 235,447 shares of the company's stock after purchasing an additional 840 shares during the period. Alliancebernstein L.P. owned approximately 0.11% of Trane Technologies worth $79,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. CWA Asset Management Group LLC lifted 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 acquiring an additional 183 shares during the last quarter. Ethic Inc. lifted its holdings in Trane Technologies by 150.1% in the fourth quarter. Ethic Inc. now owns 24,883 shares of the company's stock valued at $9,190,000 after acquiring an additional 14,932 shares during the last quarter. Brighton Jones LLC lifted its holdings in Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after acquiring an additional 2,323 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Trane Technologies by 495.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company's stock valued at $1,433,000 after acquiring an additional 3,538 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Trane Technologies by 13.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,141 shares of the company's stock valued at $3,417,000 after acquiring an additional 1,198 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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 stock was sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the sale, the chief executive officer owned 123,713 shares of the company's stock, valued at approximately $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company's stock.

Trane Technologies Stock Down 0.8%

Shares of Trane Technologies stock traded down $3.42 during trading hours on Thursday, reaching $413.91. 918,869 shares of the company were exchanged, compared to its average volume of 1,445,135. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The stock's fifty day moving average is $432.76 and its 200 day moving average is $398.63. 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 $92.10 billion, a PE ratio of 32.82, a PEG ratio of 2.55 and a beta of 1.10.

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

Analyst Ratings Changes

A number of research firms recently commented on TT. The Goldman Sachs Group upped their price objective on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Robert W. Baird upped their price objective on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Wells Fargo & Company upped their price objective on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Royal Bank Of Canada raised their price target 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. Finally, UBS Group boosted their price objective on Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $458.60.

About Trane Technologies

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.