Sumitomo Mitsui DS Asset Management Company Ltd Cuts Holdings in Trane Technologies plc $TT

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd has reduced its stake in Trane Technologies plc by 3.3%, now holding 59,856 shares valued at approximately $26.18 million.
• Analysts' ratings for Trane Technologies vary, with Goldman Sachs raising its price target to $460.00, while HSBC downgraded its rating from "strong-buy" to "hold".
• The company recently reported an EPS of $3.88 for the last quarter, exceeding expectations, with revenues of $5.75 billion, reflecting a 7.6% year-over-year growth.

Sumitomo Mitsui DS Asset Management Company Ltd lowered its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 59,856 shares of the company's stock after selling 2,065 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Trane Technologies were worth $26,182,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. WFA Asset Management Corp grew its position in Trane Technologies by 208.3% in the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Saudi Central Bank purchased a new stake in Trane Technologies in the first quarter worth $30,000. Opal Wealth Advisors LLC purchased a new stake in Trane Technologies in the first quarter worth $31,000. Bogart Wealth LLC increased its stake in Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after purchasing an additional 46 shares during the period. Finally, Tradewinds Capital Management LLC increased its stake in Trane Technologies by 46.2% in the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock worth $32,000 after purchasing an additional 30 shares during the period. Institutional investors own 82.97% of the company's stock.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded up $4.44 on Friday, reaching $406.93. The company's stock had a trading volume of 2,322,884 shares, compared to its average volume of 1,299,819. 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 stock has a 50-day moving average price of $428.42 and a 200-day moving average price of $401.72. The company has a market capitalization of $90.55 billion, a P/E ratio of 32.27, a PEG ratio of 2.54 and a beta of 1.10. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The business's revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total value of $9,223,770.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TT shares. Hsbc Global Res lowered Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Morgan Stanley increased their target price on Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. The Goldman Sachs Group increased their target price on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada increased their target price on Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Finally, Robert W. Baird increased their price target on Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $457.40.

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.