PGGM Investments Purchases 63,282 Shares of Trane Technologies plc $TT

PGGM Investments increased its position in shares of Trane Technologies plc (NYSE:TT) by 93.3% during the second quarter, HoldingsChannel.com reports. The fund owned 131,114 shares of the company’s stock after acquiring an additional 63,282 shares during the period. PGGM Investments’ holdings in Trane Technologies were worth $57,351,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

TT has been the topic of a number of research analyst reports. Royal Bank Of Canada increased their price target on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a “sector perform” rating in a report on Thursday, July 31st. Barclays decreased their price target on shares of Trane Technologies from $495.00 to $485.00 and set an “overweight” rating on the stock in a report on Tuesday, September 16th. Morgan Stanley increased their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Finally, HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and upped their price objective for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average target price of $457.40.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $422.53 on Wednesday. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The stock has a market capitalization of $94.02 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. The company has a fifty day moving average of $423.94 and a 200-day moving average of $405.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10.

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

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer owned 123,713 shares of the company’s stock, valued at $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is owned by insiders.

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.