Wealth Enhancement Advisory Services LLC Decreases Stake in Trane Technologies plc $TT

Key Points

• Wealth Enhancement Advisory Services LLC reduced its holdings in Trane Technologies plc by 5.3%, selling 2,855 shares, leaving them with 50,686 shares valued at approximately $22.17 million.
• Analysts have mixed views on Trane Technologies, with five rating a Buy, ten a Hold, and one a Sell, while the average price target for the stock is $457.40.
• CEO David S. Regnery sold 22,497 shares of the company’s stock for over $9 million, resulting in a significant decrease in his ownership percentage.

Wealth Enhancement Advisory Services LLC trimmed its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 5.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,686 shares of the company's stock after selling 2,855 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Trane Technologies were worth $22,170,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Trane Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company's stock valued at $6,555,377,000 after purchasing an additional 221,206 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Trane Technologies by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock valued at $5,297,235,000 after buying an additional 1,408,421 shares during the period. Ameriprise Financial Inc. boosted its position in Trane Technologies by 7.2% in the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company's stock valued at $1,208,044,000 after buying an additional 241,910 shares during the period. Nuveen LLC purchased a new stake in Trane Technologies in the 1st quarter valued at about $877,468,000. Finally, Northern Trust Corp boosted its position in Trane Technologies by 0.7% in the 1st quarter. Northern Trust Corp now owns 2,584,819 shares of the company's stock valued at $870,877,000 after buying an additional 17,292 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TT shares. Robert W. Baird boosted their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. UBS Group boosted their price objective on shares of Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Northcoast Research cut shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, August 1st. The Goldman Sachs Group boosted their price objective 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. Finally, HSBC cut shares of Trane Technologies from a "buy" rating to a "hold" rating and upped their price target for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $457.40.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the sale, the chief executive officer owned 123,713 shares of the company's stock, valued at $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is owned by insiders.

Trane Technologies Stock Down 0.6%

NYSE:TT traded down $2.34 during midday trading on Tuesday, reaching $405.29. 420,352 shares of the stock traded hands, compared to its average volume of 1,445,167. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The business has a 50-day moving average of $427.79 and a two-hundred day moving average of $402.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The stock has a market capitalization of $90.18 billion, a PE ratio of 32.14, a price-to-earnings-growth ratio of 2.54 and a beta of 1.10.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $3.88 EPS 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 company had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.77 billion. During the same quarter in the prior year, the company posted $3.30 earnings per share. Trane Technologies'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. On average, equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal 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.