Trane Technologies plc $TT Shares Sold by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio has reduced its holdings in Trane Technologies plc by 2.3%, ending up with 94,351 shares worth approximately $41.27 million.
• CEO David S. Regnery sold 22,497 shares at $410 each, decreasing his ownership by 15.39% and retaining shares valued at over $50.72 million.
• Analysts have varied price targets for Trane Technologies, with a consensus rating of "Hold" and a price target of $457.40, indicating mixed investor sentiments.

Public Employees Retirement System of Ohio trimmed its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,351 shares of the company's stock after selling 2,248 shares during the period. Public Employees Retirement System of Ohio's holdings in Trane Technologies were worth $41,270,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. CWA Asset Management Group LLC lifted its position in shares of Trane Technologies by 19.2% during the first 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 in the last quarter. OMNI 360 Wealth Inc. acquired a new position in shares of Trane Technologies during the second quarter worth $345,000. Jones Financial Companies Lllp lifted its position in shares of Trane Technologies by 350.3% during the first quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company's stock worth $7,140,000 after purchasing an additional 16,485 shares in the last quarter. Nippon Life Global Investors Americas Inc. lifted its position in shares of Trane Technologies by 17.5% during the first quarter. Nippon Life Global Investors Americas Inc. now owns 3,090 shares of the company's stock worth $1,041,000 after purchasing an additional 460 shares in the last quarter. Finally, BROOKFIELD Corp ON lifted its position in shares of Trane Technologies by 11.0% during the first quarter. BROOKFIELD Corp ON now owns 8,227 shares of the company's stock worth $2,772,000 after purchasing an additional 812 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction dated 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 sale, the chief executive officer 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by company insiders.

Trane Technologies Stock Down 0.3%

Shares of NYSE:TT opened at $404.10 on Thursday. The stock has a market capitalization of $89.92 billion, a price-to-earnings ratio of 32.05, a price-to-earnings-growth ratio of 2.52 and a beta of 1.10. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The company's fifty day moving average is $426.51 and its two-hundred day moving average is $402.60. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10.

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, topping 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 analysts' expectations of $5.77 billion. During the same quarter last year, the company earned $3.30 EPS. The company's revenue for the quarter 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. Equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on TT shares. The Goldman Sachs Group upped their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. 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 research note on Tuesday, July 1st. Barclays reduced their price objective on shares of Trane Technologies from $495.00 to $485.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 16th. Northcoast Research downgraded shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada increased their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Five 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 stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $457.40.

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.

Want to see what other hedge funds are holding TT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trane Technologies plc (NYSE:TT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.