Trane Technologies plc $TT Stock Holdings Trimmed by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its holdings in shares of Trane Technologies plc (NYSE:TT) by 16.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 53,645 shares of the company’s stock after selling 10,360 shares during the quarter. QRG Capital Management Inc.’s holdings in Trane Technologies were worth $22,636,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in 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 buying an additional 335,634 shares in the last quarter. State Street Corp boosted its holdings in shares of Trane Technologies by 0.3% in the second quarter. State Street Corp now owns 10,077,267 shares of the company’s stock valued at $4,407,904,000 after acquiring an additional 31,826 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Trane Technologies by 1.1% during 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 acquiring an additional 56,293 shares during the period. Norges Bank acquired a new stake in Trane Technologies in the second quarter worth approximately $1,356,065,000. Finally, Nordea Investment Management AB boosted its stake in Trane Technologies by 2.4% during the 3rd quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock valued at $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 Analyst Weigh In

TT has been the topic of a number of research reports. Barclays dropped their price objective on Trane Technologies from $506.00 to $505.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, October 8th. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 7th. Morgan Stanley cut their price objective on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, UBS Group reduced their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $475.60.

Insider Buying and Selling at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total transaction of $264,000.00. Following the completion of the sale, the chief accounting officer directly owned 7,148 shares in the company, valued at approximately $3,145,120. This trade represents a 7.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

Trane Technologies Stock Up 0.5%

Shares of Trane Technologies stock opened at $389.21 on Friday. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The company has a market cap of $86.30 billion, a P/E ratio of 29.94, a P/E/G ratio of 1.94 and a beta of 1.21. The company has a current ratio of 1.20, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $399.69 and a 200 day moving average price of $417.56.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the company earned $3.37 EPS. The firm’s quarterly revenue 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 expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

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.