Trane Technologies plc $TT Shares Purchased by Truist Financial Corp

Key Points

• Truist Financial Corp has increased its stake in Trane Technologies plc by 1.1%, now owning approximately 386,523 shares valued at about $169 million.
• Trane Technologies reported earnings of $3.88 per share, exceeding estimates, with a 7.6% year-over-year revenue growth of $5.75 billion for the last quarter.
• Analysts have mixed ratings on Trane Technologies, with price targets ranging from $370 to $520, indicating a consensus rating of "Hold".

Truist Financial Corp boosted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 1.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 386,523 shares of the company's stock after acquiring an additional 4,133 shares during the quarter. Truist Financial Corp owned about 0.17% of Trane Technologies worth $169,069,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Campbell Newman Asset Management Inc. purchased a new stake in shares of Trane Technologies during the second quarter worth approximately $986,000. Northwest Wealth Management LLC purchased a new position in Trane Technologies during the 2nd quarter worth $233,000. HB Wealth Management LLC lifted its stake in shares of Trane Technologies by 14.4% in the 2nd quarter. HB Wealth Management LLC now owns 8,056 shares of the company's stock worth $3,524,000 after acquiring an additional 1,013 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Trane Technologies by 2.7% in the second quarter. Janney Montgomery Scott LLC now owns 96,038 shares of the company's stock valued at $42,008,000 after acquiring an additional 2,533 shares in the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC increased its stake in shares of Trane Technologies by 5.9% during the second quarter. Baron Silver Stevens Financial Advisors LLC now owns 2,453 shares of the company's stock worth $1,073,000 after acquiring an additional 136 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Trading Up 2.0%

NYSE:TT opened at $422.53 on Wednesday. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $423.94 and a 200-day simple moving average of $405.12. The company has a market capitalization of $94.02 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share 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 during the quarter, compared to the consensus estimate of $5.77 billion. During the same period last year, the firm posted $3.30 EPS. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TT has been the subject of a number of recent analyst reports. HSBC downgraded shares of 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 research report on Thursday, July 31st. Wells Fargo & Company lifted their price target on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Hsbc Global Res cut Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Morgan Stanley boosted their target price on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Barclays cut their price target on shares of Trane Technologies from $495.00 to $485.00 and set an "overweight" rating for the company in a report on Tuesday, September 16th. Five 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's stock. According to data from MarketBeat, Trane Technologies has a consensus rating of "Hold" and an average price target of $457.40.

Insider Activity

In related news, CEO David S. Regnery sold 22,497 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is owned by corporate insiders.

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.

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