LGT Fund Management Co Ltd. Sells 63 Shares of Trane Technologies plc $TT

LGT Fund Management Co Ltd. reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 2.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,434 shares of the company’s stock after selling 63 shares during the period. LGT Fund Management Co Ltd.’s holdings in Trane Technologies were worth $1,065,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TT. 111 Capital bought a new stake in Trane Technologies in the second quarter worth $472,000. Tilia Fiduciary Partners Inc. lifted its stake in Trane Technologies by 2.3% in the second quarter. Tilia Fiduciary Partners Inc. now owns 1,351 shares of the company’s stock worth $591,000 after purchasing an additional 31 shares during the last quarter. Ameriflex Group Inc. bought a new stake in Trane Technologies in the second quarter worth $28,000. QRG Capital Management Inc. lifted its stake in Trane Technologies by 39.5% in the second quarter. QRG Capital Management Inc. now owns 64,005 shares of the company’s stock worth $27,996,000 after purchasing an additional 18,121 shares during the last quarter. Finally, Ascent Group LLC lifted its stake in Trane Technologies by 2.1% in the second quarter. Ascent Group LLC now owns 13,492 shares of the company’s stock worth $5,902,000 after purchasing an additional 282 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TT. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and boosted their price target for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Saturday, September 27th. Citigroup decreased their price objective on shares of Trane Technologies from $499.00 to $494.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. Barclays decreased their price objective on shares of Trane Technologies from $495.00 to $485.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 16th. Finally, Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $457.40.

Trane Technologies Trading Up 0.2%

Shares of TT opened at $424.29 on Friday. The firm’s 50-day moving average price is $421.53 and its 200-day moving average price is $406.70. The firm has a market capitalization of $94.41 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 2.63 and a beta of 1.12. 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 1-year low of $298.15 and a 1-year high of $476.18.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.79 by $0.09. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of Trane Technologies 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 owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. The trade was a 15.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

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.