Stonegate Investment Group LLC Has $9.96 Million Stock Position in Trane Technologies plc $TT

Stonegate Investment Group LLC boosted its holdings in Trane Technologies plc (NYSE:TT) by 52.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,602 shares of the company’s stock after purchasing an additional 8,107 shares during the quarter. Stonegate Investment Group LLC’s holdings in Trane Technologies were worth $9,959,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Trane Technologies by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 19,792,410 shares of the company’s stock valued at $8,657,398,000 after acquiring an additional 335,634 shares in the last quarter. State Street Corp grew its holdings in Trane Technologies by 0.3% in the second quarter. State Street Corp now owns 10,077,267 shares of the company’s stock worth $4,407,904,000 after purchasing an additional 31,826 shares during the period. Geode Capital Management LLC increased its stake in Trane Technologies by 1.1% in the second quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock valued at $2,164,764,000 after purchasing an additional 56,293 shares in the last quarter. Norges Bank acquired a new position in shares of Trane Technologies during the second quarter valued at about $1,356,065,000. Finally, Nordea Investment Management AB boosted its position in shares of Trane Technologies by 2.4% during the 3rd quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock worth $1,051,049,000 after purchasing an additional 57,774 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of research analyst reports. KeyCorp raised Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price for the company in a research report on Monday, December 15th. Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $490.00 to $550.00 in a report on Thursday, November 13th. Barclays cut their target price on Trane Technologies from $506.00 to $505.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a research note on Wednesday, January 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $479.73.

Trane Technologies Price Performance

TT opened at $394.59 on Tuesday. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.20 and a quick ratio of 0.84. The company has a market capitalization of $87.50 billion, a price-to-earnings ratio of 30.35, a P/E/G ratio of 1.93 and a beta of 1.21. The firm’s fifty day moving average price is $396.06 and its two-hundred day moving average price is $415.46.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.80 by $0.08. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the company posted $3.37 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Insider Activity at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total transaction of $264,000.00. Following the transaction, the chief accounting officer owned 7,148 shares of the company’s stock, valued at $3,145,120. This trade represents a 7.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.