United Services Automobile Association Makes New $1.72 Million Investment in Trane Technologies plc $TT

Key Points

• The United Services Automobile Association has invested approximately $1.72 million in Trane Technologies plc, acquiring 5,190 shares in the company during the first quarter.
• Trane Technologies displayed strong performance with a net margin of 13.76% and reported $3.88 earnings per share for the last quarter, surpassing analyst expectations.
• Analysts have varying outlooks on Trane Technologies, with price targets ranging from $410.00 to $520.00, indicating differing opinions on the stock's current valuation.

United Services Automobile Association acquired a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,190 shares of the company's stock, valued at approximately $1,723,000.

Other large investors also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Trane Technologies during the 1st quarter worth $877,468,000. GAMMA Investing LLC grew its stake in shares of Trane Technologies by 35,458.2% during the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock worth $679,161,000 after purchasing an additional 2,010,123 shares during the period. Wellington Management Group LLP grew its stake in shares of Trane Technologies by 245.1% during the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company's stock worth $722,493,000 after purchasing an additional 1,522,933 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock worth $5,297,235,000 after purchasing an additional 1,408,421 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Trane Technologies by 95.1% during the 1st quarter. AQR Capital Management LLC now owns 885,039 shares of the company's stock worth $291,727,000 after purchasing an additional 431,495 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of recent analyst reports. Robert W. Baird upped their price target on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. 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 note on Thursday, July 31st. Wells Fargo & Company upped their price target on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Morgan Stanley increased their price objective on shares of Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Citigroup increased their price objective on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $458.60.

Trane Technologies Price Performance

Trane Technologies stock opened at $413.88 on Monday. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The stock has a market capitalization of $92.09 billion, a P/E ratio of 32.82, a P/E/G ratio of 2.58 and a beta of 1.10. The firm's 50-day moving average is $434.03 and its two-hundred day moving average is $398.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $5.77 billion. During the same period last year, the company earned $3.30 EPS. The firm'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 predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

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.

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