Ninety One UK Ltd Sells 234,566 Shares of Trane Technologies plc $TT

Ninety One UK Ltd reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 29.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 561,231 shares of the company’s stock after selling 234,566 shares during the period. Ninety One UK Ltd owned 0.25% of Trane Technologies worth $245,488,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TT. Brighton Jones LLC raised its position 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 valued at $2,288,000 after purchasing an additional 2,323 shares during the period. Baker Tilly Wealth Management LLC raised its holdings in Trane Technologies by 41.9% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 958 shares of the company’s stock worth $323,000 after acquiring an additional 283 shares during the period. Fiduciary Alliance LLC raised its holdings in Trane Technologies by 5.2% in the 1st quarter. Fiduciary Alliance LLC now owns 2,388 shares of the company’s stock worth $805,000 after acquiring an additional 118 shares during the period. NBC Securities Inc. bought a new position in Trane Technologies in the 1st quarter worth $39,000. Finally, Harbor Investment Advisory LLC raised its holdings in Trane Technologies by 874.2% in the 1st quarter. Harbor Investment Advisory LLC now owns 302 shares of the company’s stock worth $102,000 after acquiring an additional 271 shares during the period. 82.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 22,497 shares of the company’s stock in a transaction dated 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 $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group lifted their price objective on Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Morgan Stanley lifted their price target on Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Barclays dropped their price target on Trane Technologies from $495.00 to $485.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 16th. Royal Bank Of Canada boosted their target price on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 31st. Finally, Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. 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. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $457.40.

Trane Technologies Stock Performance

TT opened at $422.53 on Wednesday. The stock has a market cap of $94.02 billion, a PE ratio of 33.51, a P/E/G ratio of 2.57 and a beta of 1.10. 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 1 year low of $298.15 and a 1 year high of $476.18. The stock’s 50 day simple moving average is $423.94 and its 200-day simple moving average is $405.12.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business’s revenue for the quarter was up 7.6% on a year-over-year basis. 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 forecast that Trane Technologies plc will post 12.83 EPS for the current 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.