Strs Ohio Takes Position in Trane Technologies plc $TT

Strs Ohio acquired a new stake in Trane Technologies plc (NYSE:TT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 84,649 shares of the company’s stock, valued at approximately $28,520,000.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Trane Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company’s stock valued at $6,555,377,000 after purchasing an additional 221,206 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Trane Technologies by 9.8% in the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after purchasing an additional 1,408,421 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Trane Technologies by 7.2% in the first quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock valued at $1,208,044,000 after purchasing an additional 241,910 shares during the period. Nuveen LLC acquired a new position in shares of Trane Technologies in the first quarter valued at about $877,468,000. Finally, Northern Trust Corp increased its holdings in shares of Trane Technologies by 0.7% in the first quarter. Northern Trust Corp now owns 2,584,819 shares of the company’s stock valued at $870,877,000 after purchasing an additional 17,292 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Citigroup increased their price objective on Trane Technologies from $445.00 to $502.00 and gave the company a “buy” rating in a report on Monday, July 14th. The Goldman Sachs Group raised their target price on Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and raised their target price for the stock from $415.00 to $460.00 in a report on Thursday, July 31st. Finally, Royal Bank Of Canada raised their target price on Trane Technologies from $463.00 to $467.00 and gave the stock a “sector perform” rating in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $458.60.

Insider Transactions at Trane Technologies

In other Trane Technologies 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 transaction of $9,223,770.00. Following the transaction, the chief executive officer owned 123,713 shares in the company, valued at approximately $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $415.82 on Friday. The company has a market capitalization of $92.52 billion, a P/E ratio of 32.98, a P/E/G ratio of 2.60 and a beta of 1.10. The business’s 50 day moving average is $432.28 and its two-hundred day moving average is $399.10. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18.

Trane Technologies (NYSE:TT) 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 company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.Trane Technologies’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business 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 fiscal year.

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.