Trane Technologies plc $TT Stake Boosted by Tidal Investments LLC

Key Points

• Tidal Investments increased its Trane Technologies stake by 15.3% in the second quarter, bringing its holdings to 32,105 shares valued at approximately $15.8 million. Institutional investors collectively own 82.97% of the company.
• Analysts maintain a generally positive outlook, with Trane Technologies carrying a consensus “Moderate Buy” rating and an average price target of $521.50, despite mixed target revisions.
• Trane Technologies exceeded quarterly expectations, reporting $4.31 in EPS and $6.35 billion in revenue, with revenue up 10.6% year over year. Shares opened at $439.89, while CEO David Regnery sold 43,778 shares under a pre-arranged trading plan.

Tidal Investments LLC raised its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 15.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,105 shares of the company's stock after buying an additional 4,264 shares during the quarter. Tidal Investments LLC's holdings in Trane Technologies were worth $15,769,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SEB Asset Management AB purchased a new position in shares of Trane Technologies during the 1st quarter valued at $47,195,000. North Dakota State Investment Board acquired a new stake in Trane Technologies during the fourth quarter valued at $2,976,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Trane Technologies by 54.4% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,153 shares of the company's stock valued at $41,321,000 after purchasing an additional 34,930 shares in the last quarter. Nicholson Wealth Management Group LLC acquired a new position in Trane Technologies in the 1st quarter worth about $1,644,000. Finally, Rathbones Group PLC raised its stake in shares of Trane Technologies by 3.6% during the 4th quarter. Rathbones Group PLC now owns 68,570 shares of the company's stock worth $26,687,000 after purchasing an additional 2,375 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Royal Bank Of Canada cut their target price on shares of Trane Technologies from $501.00 to $496.00 and set a "sector perform" rating for the company in a research report on Friday, July 31st. Citigroup reduced their price objective on Trane Technologies from $570.00 to $566.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Wall Street Zen cut shares of Trane Technologies from a "buy" rating to a "hold" rating in a research note on Sunday, August 30th. Finally, Sanford C. Bernstein lifted their price target on shares of Trane Technologies from $555.00 to $575.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $521.50.

Trane Technologies Stock Down 1.0%

Shares of NYSE TT opened at $439.89 on Friday. The stock has a market cap of $96.78 billion, a P/E ratio of 33.32, a P/E/G ratio of 2.12 and a beta of 1.19. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $505.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.76 and a current ratio of 1.07. The firm has a 50 day moving average price of $465.58 and a 200 day moving average price of $460.03.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $4.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.27 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.20 billion. Trane Technologies had a return on equity of 35.72% and a net margin of 13.28%.The company's revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.88 earnings per share. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. Analysts expect that Trane Technologies plc will post 15.31 EPS for the current year.

Insider Activity at Trane Technologies

In related news, CEO David Regnery sold 43,778 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $475.00, for a total value of $20,794,550.00. Following the sale, the chief executive officer directly owned 96,950 shares of the company's stock, valued at approximately $46,051,250. The trade was a 31.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.

About Trane Technologies

Trane Technologies plc is a global climate-focused company that designs, manufactures and services solutions for heating, ventilation and air conditioning (HVAC), as well as transport refrigeration. Its offerings include commercial and residential HVAC systems, building controls, energy-efficiency solutions, aftermarket services and parts, and related building-management technologies.

The company also serves the transportation market through refrigeration and temperature-control systems for trucks, trailers, rail cars and other applications.

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