Trane Technologies plc $TT Shares Sold by Plato Investment Management Ltd

Key Points

• Plato Investment Management Ltd has reduced its stake in Trane Technologies plc by 6.6%, owning 11,137 shares valued at approximately $3.79 million as of its latest SEC filing.
• CEO David S. Regnery sold 22,497 shares of Trane Technologies at an average price of $410.00, decreasing his ownership by 15.39%.
• Analysts have rated Trane Technologies with an average rating of "Hold" and a target price of $458.60, while notable ratings changes include Goldman Sachs increasing its price target from $416.00 to $460.00.

Plato Investment Management Ltd reduced its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,137 shares of the company's stock after selling 789 shares during the period. Plato Investment Management Ltd's holdings in Trane Technologies were worth $3,793,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TT. Csenge Advisory Group lifted its position in Trane Technologies by 0.6% during the first quarter. Csenge Advisory Group now owns 3,944 shares of the company's stock worth $1,314,000 after buying an additional 25 shares in the last quarter. Fiera Capital Corp increased its stake in shares of Trane Technologies by 1.4% in the 1st quarter. Fiera Capital Corp now owns 1,930 shares of the company's stock worth $650,000 after acquiring an additional 27 shares during the last quarter. Bingham Private Wealth LLC raised its holdings in shares of Trane Technologies by 3.2% during the 1st quarter. Bingham Private Wealth LLC now owns 944 shares of the company's stock worth $318,000 after acquiring an additional 29 shares during the period. Tradewinds Capital Management LLC boosted its position in shares of Trane Technologies by 46.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after acquiring an additional 30 shares during the last quarter. Finally, Smith Group Asset Management LLC grew its holdings in shares of Trane Technologies by 1.2% in the first quarter. Smith Group Asset Management LLC now owns 2,610 shares of the company's stock valued at $879,000 after purchasing an additional 30 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on TT. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Morgan Stanley increased their price objective on Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. lifted their target price on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, UBS Group upped their price target on Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Five equities 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 company. According to MarketBeat, Trane Technologies has an average rating of "Hold" and an average price target of $458.60.

Insider Activity

In other news, CEO David S. Regnery sold 22,497 shares of the firm's 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company's stock.

Trane Technologies Trading Down 1.5%

TT opened at $408.74 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 business has a fifty day simple moving average of $433.07 and a 200-day simple moving average of $398.50. The firm has a market cap of $90.95 billion, a P/E ratio of 32.41, a P/E/G ratio of 2.59 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 (EPS) 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 firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the previous year, the business earned $3.30 EPS. The company's quarterly revenue was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Company Profile

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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