First Hawaiian Bank Has $5.98 Million Stock Position in Trane Technologies plc $TT

Key Points

• First Hawaiian Bank has decreased its stake in Trane Technologies plc by 9.2%, selling 1,803 shares, which brings their total holdings to 17,753 shares valued at approximately $5.98 million.
• Trane Technologies' latest quarterly earnings report shows earnings per share (EPS) of $3.88, surpassing analysts' expectations of $3.79, while revenue was reported at $5.75 billion, slightly below estimates.
• The consensus rating for Trane Technologies is "Hold" from analysts, with an average target price raised to $458.60.

First Hawaiian Bank cut its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 9.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,753 shares of the company's stock after selling 1,803 shares during the quarter. First Hawaiian Bank's holdings in Trane Technologies were worth $5,981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Inspire Investing LLC increased its stake in shares of Trane Technologies by 20.8% in the first quarter. Inspire Investing LLC now owns 5,571 shares of the company's stock valued at $1,877,000 after buying an additional 960 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in Trane Technologies by 23.4% in the first quarter. CBIZ Investment Advisory Services LLC now owns 137 shares of the company's stock valued at $46,000 after acquiring an additional 26 shares during the last quarter. Modern Wealth Management LLC boosted its stake in shares of Trane Technologies by 3.7% in the 1st quarter. Modern Wealth Management LLC now owns 3,135 shares of the company's stock valued at $1,056,000 after purchasing an additional 113 shares during the last quarter. Anderson Financial Strategies LLC bought a new position in shares of Trane Technologies in the 1st quarter valued at about $51,000. Finally, Strs Ohio bought a new position in shares of Trane Technologies in the 1st quarter valued at about $28,520,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Trane Technologies

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 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 trade represents a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TT. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. UBS Group raised their target price on shares of Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Wells Fargo & Company raised their target price on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Citigroup raised their target price on Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, The Goldman Sachs Group raised their target price on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $458.60.

Trane Technologies Stock Down 3.4%

Shares of NYSE:TT traded down $13.91 during trading on Friday, hitting $400.97. 1,563,705 shares of the company's stock traded hands, compared to its average volume of 1,195,808. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company has a market cap of $89.22 billion, a price-to-earnings ratio of 31.80, a price-to-earnings-growth ratio of 2.50 and a beta of 1.10. The company has a 50-day moving average price of $431.51 and a 200-day moving average price of $400.19.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data 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 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 analysts' expectations of $5.77 billion. During the same quarter in the previous year, the business posted $3.30 EPS. Trane Technologies'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. As a group, research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

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.