Intech Investment Management LLC Lowers Position in Trane Technologies plc $TT

Key Points

• Intech Investment Management LLC reduced its stake in Trane Technologies plc by 24.7% during the first quarter, now owning 9,660 shares valued at approximately $3.26 million.
• Several hedge funds increased their positions in Trane Technologies, with Vanguard Group Inc. now holding $6.56 billion worth and JPMorgan Chase & Co. increasing by 9.8% to a total of $5.30 billion.
• Trane Technologies reported $3.88 EPS for the last quarter, exceeding estimates, with a net margin of 13.76% and 7.6% revenue growth year-over-year.

Intech Investment Management LLC trimmed its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 24.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,660 shares of the company's stock after selling 3,173 shares during the quarter. Intech Investment Management LLC's holdings in Trane Technologies were worth $3,255,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WFA Asset Management Corp boosted its stake in shares of Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Trane Technologies during the fourth quarter worth $28,000. Saudi Central Bank acquired a new stake in shares of Trane Technologies during the first quarter worth $30,000. Opal Wealth Advisors LLC acquired a new position in Trane Technologies during the first quarter valued at $31,000. Finally, Bogart Wealth LLC lifted its position in Trane Technologies by 97.9% during the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after purchasing an additional 46 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the 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 transaction, the chief executive officer directly owned 123,713 shares of the company's stock, valued at $50,722,330. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is owned by company insiders.

Trane Technologies Stock Down 0.7%

Shares of TT traded down $2.62 during midday trading on Tuesday, reaching $399.82. The stock had a trading volume of 1,402,720 shares, compared to its average volume of 1,449,814. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The company's fifty day simple moving average is $430.89 and its two-hundred day simple moving average is $400.53. The company has a market cap of $88.97 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 2.50 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.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period last year, the business earned $3.30 EPS. 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. Equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on TT shares. Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Barclays dropped their price target on shares of Trane Technologies from $495.00 to $485.00 and set an "overweight" rating for the company in a research note on Tuesday. Wells Fargo & Company increased their price target on shares of Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. The Goldman Sachs Group increased their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Finally, HSBC cut shares of Trane Technologies from a "buy" rating to a "hold" rating and increased their price target for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Five 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 stock. Based on data from MarketBeat, Trane Technologies has an average rating of "Hold" and an average price target of $457.93.

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.