Abacus Planning Group Inc. Raises Stock Holdings in Trane Technologies plc $TT

Abacus Planning Group Inc. increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 20.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 767 shares of the company’s stock after acquiring an additional 129 shares during the period. Abacus Planning Group Inc.’s holdings in Trane Technologies were worth $335,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Csenge Advisory Group lifted its stake in shares of Trane Technologies by 0.6% in the first quarter. Csenge Advisory Group now owns 3,944 shares of the company’s stock worth $1,314,000 after buying an additional 25 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its holdings in Trane Technologies by 23.4% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 137 shares of the company’s stock worth $46,000 after acquiring an additional 26 shares during the last quarter. Fiera Capital Corp lifted its position in Trane Technologies by 1.4% in the 1st quarter. Fiera Capital Corp now owns 1,930 shares of the company’s stock valued at $650,000 after acquiring an additional 27 shares in the last quarter. Old Port Advisors boosted its stake in Trane Technologies by 3.7% during the 2nd quarter. Old Port Advisors now owns 754 shares of the company’s stock valued at $330,000 after purchasing an additional 27 shares during the last quarter. Finally, Bingham Private Wealth LLC increased its holdings in shares of Trane Technologies by 3.2% in the 1st quarter. Bingham Private Wealth LLC now owns 944 shares of the company’s stock worth $318,000 after purchasing an additional 29 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

NYSE:TT opened at $424.29 on Friday. The business’s 50-day simple moving average is $421.53 and its two-hundred day simple moving average is $406.31. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The stock has a market cap of $94.41 billion, a PE ratio of 33.65, a P/E/G ratio of 2.63 and a beta of 1.12. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50.

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

Insider Activity

In other news, CEO David S. Regnery sold 22,497 shares of the business’s stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on TT shares. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and increased their price objective for the company from $415.00 to $460.00 in a research report on Thursday, July 31st. Northcoast Research cut shares of Trane Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, August 1st. The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Morgan Stanley boosted their price objective on shares of Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Finally, Citigroup dropped their target price on shares of Trane Technologies from $499.00 to $494.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Six 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.com, the company presently has a consensus rating of “Hold” and an average price target of $457.40.

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.