Trane Technologies plc $TT Position Increased by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its holdings in Trane Technologies by 24%, acquiring an additional 13,455 shares, bringing its total to 69,535 shares valued at approximately $23.4 million.
• Several other institutional investors significantly increased their stakes in Trane Technologies, with GAMMA Investing LLC boosting its position by over 35,458% in the same quarter.
• Wall Street analysts have mixed ratings for Trane Technologies, with an average rating of "Hold" and a price target of $458.60, while Citigroup recently raised its price target to $502.00.

Voya Investment Management LLC grew its position in Trane Technologies plc (NYSE:TT - Free Report) by 24.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,535 shares of the company's stock after buying an additional 13,455 shares during the quarter. Voya Investment Management LLC's holdings in Trane Technologies were worth $23,428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of TT. WFA Asset Management Corp boosted its position in shares of Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at about $28,000. Saudi Central Bank acquired a new stake in shares of Trane Technologies in the 1st quarter valued at about $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Trane Technologies in the 1st quarter valued at about $31,000. Finally, Bogart Wealth LLC boosted its position in shares of Trane Technologies by 97.9% in the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after purchasing an additional 46 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Morgan Stanley upped their price objective on Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Robert W. Baird raised their price objective on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. The Goldman Sachs Group increased their target price on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. HSBC cut Trane Technologies from a "buy" rating to a "hold" rating and increased their target price for the company from $415.00 to $460.00 in a report on Thursday, July 31st. Finally, Wells Fargo & Company raised their price objective on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $457.40.

Trane Technologies Stock Up 1.1%

Shares of NYSE:TT traded up $4.44 during trading on Friday, hitting $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 debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The stock's 50-day moving average price is $428.42 and its two-hundred day moving average price is $401.35. The company has a market capitalization of $90.55 billion, a PE ratio of 32.27, a PEG ratio of 2.51 and a beta of 1.10.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.77 billion. During the same quarter in the prior year, the firm 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. As a group, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly 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 filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by company insiders.

Trane Technologies 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.