Wesbanco Bank Inc. Lowers Stake in Trane Technologies plc $TT

Key Points

• Wesbanco Bank Inc. reduced its stake in Trane Technologies plc by 4.6%, selling 692 shares and owning 14,469 shares worth approximately $6.33 million as of the latest SEC filing.
• CEO David S. Regnery sold 22,497 shares of Trane Technologies for over $9.2 million, resulting in a 15.39% decrease in his ownership.
• Analyst ratings for Trane Technologies show a mix, with five analysts recommending a "Buy" rating, ten a "Hold," and one suggesting a "Sell," with a consensus target price of $458.60.

Wesbanco Bank Inc. lowered its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,469 shares of the company's stock after selling 692 shares during the quarter. Wesbanco Bank Inc.'s holdings in Trane Technologies were worth $6,329,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. CWA Asset Management Group LLC lifted its holdings in shares of Trane Technologies by 19.2% in the first quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock worth $382,000 after buying an additional 183 shares in the last quarter. Nippon Life Global Investors Americas Inc. lifted its holdings in shares of Trane Technologies by 17.5% in the first quarter. Nippon Life Global Investors Americas Inc. now owns 3,090 shares of the company's stock worth $1,041,000 after buying an additional 460 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Trane Technologies by 350.3% in the first quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company's stock worth $7,140,000 after buying an additional 16,485 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after buying an additional 2,323 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Trane Technologies by 495.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company's stock worth $1,433,000 after buying an additional 3,538 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling at Trane Technologies

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

Analyst Ratings Changes

TT has been the topic of several research analyst reports. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Citigroup boosted their target price on shares of Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a report on Monday, July 14th. UBS Group boosted their target price on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Royal Bank Of Canada upped their price target on shares of Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Finally, Robert W. Baird upped their price target on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Trane Technologies has a consensus rating of "Hold" and an average target price of $458.60.

Trane Technologies Price Performance

Trane Technologies stock opened at $400.97 on Friday. The company has a market cap of $89.22 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 2.59 and a beta of 1.10. The firm's fifty day moving average is $431.51 and its 200 day moving average is $399.80. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. 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 announced its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating 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 business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the prior year, the firm posted $3.30 earnings per share. The business's revenue for the quarter was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal 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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