Figure 8 Investment Strategies LLC lessened its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 10.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,508 shares of the company's stock after selling 1,264 shares during the period. Trane Technologies accounts for approximately 4.5% of Figure 8 Investment Strategies LLC's investment portfolio, making the stock its 4th biggest position. Figure 8 Investment Strategies LLC's holdings in Trane Technologies were worth $4,596,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. CWA Asset Management Group LLC raised its position in shares of Trane Technologies by 19.2% during the 1st quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock worth $382,000 after purchasing an additional 183 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new stake in Trane Technologies in the 2nd quarter valued at about $345,000. Jones Financial Companies Lllp raised its holdings in Trane Technologies by 350.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company's stock valued at $7,140,000 after acquiring an additional 16,485 shares during the last quarter. BROOKFIELD Corp ON raised its holdings in Trane Technologies by 11.0% in the 1st quarter. BROOKFIELD Corp ON now owns 8,227 shares of the company's stock valued at $2,772,000 after acquiring an additional 812 shares during the last quarter. Finally, Nippon Life Global Investors Americas Inc. raised its holdings in Trane Technologies by 17.5% in the 1st 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 last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.
Insiders Place Their Bets
In related news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction that occurred 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 sale, the chief executive officer owned 123,713 shares in the company, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company's stock.
Trane Technologies Stock Up 0.2%
Shares of NYSE TT opened at $424.29 on Friday. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. 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 company has a 50 day simple moving average of $421.53 and a 200-day simple moving average of $406.31. The company has a market capitalization of $94.41 billion, a P/E ratio of 33.65, a P/E/G ratio of 2.63 and a beta of 1.12.
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 quarter last year, the firm earned $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 predict that Trane Technologies plc will post 12.83 earnings per share for the current year.
Analysts Set New Price Targets
A number of analysts have commented on the stock. Northcoast Research downgraded shares of Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. Robert W. Baird increased their price objective on shares of 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 increased their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. UBS Group increased their price objective on shares of Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group raised their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Six equities research 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $457.40.
Read Our Latest Research Report on TT
About Trane Technologies
(
Free Report)
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.
Further Reading
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