Renaissance Investment Group LLC Has $12.49 Million Stock Position in Trane Technologies plc $TT

Renaissance Investment Group LLC grew its stake in shares of Trane Technologies plc (NYSE:TT) by 1.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,558 shares of the company’s stock after buying an additional 363 shares during the quarter. Trane Technologies makes up 2.7% of Renaissance Investment Group LLC’s holdings, making the stock its 16th biggest holding. Renaissance Investment Group LLC’s holdings in Trane Technologies were worth $12,492,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of TT. Nuveen LLC bought a new stake in Trane Technologies during the 1st quarter worth $877,468,000. GAMMA Investing LLC boosted its stake in shares of Trane Technologies by 35,458.2% during the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company’s stock valued at $679,161,000 after purchasing an additional 2,010,123 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Trane Technologies by 245.1% during the first quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock worth $722,493,000 after purchasing an additional 1,522,933 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Trane Technologies by 9.8% in the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after buying an additional 1,408,421 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Trane Technologies by 95.1% in the first quarter. AQR Capital Management LLC now owns 885,039 shares of the company’s stock valued at $291,727,000 after buying an additional 431,495 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the transaction, the chief executive officer owned 123,713 shares in the company, valued at approximately $50,722,330. This represents a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the topic of several recent research reports. Royal Bank Of Canada lifted 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. Citigroup boosted their price objective on Trane Technologies from $445.00 to $502.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Wells Fargo & Company raised their price target on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an “underweight” rating in a report on Tuesday, July 1st. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and lifted their price target for the company from $415.00 to $460.00 in a research report on Thursday, July 31st. Finally, Northcoast Research cut Trane Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, August 1st. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $458.60.

Trane Technologies Stock Performance

NYSE TT opened at $403.27 on Tuesday. The company has a market capitalization of $89.73 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 2.50 and a beta of 1.10. 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 plc has a 52-week low of $298.15 and a 52-week high of $476.18. The company has a 50-day simple moving average of $430.89 and a 200 day simple moving average of $400.53.

Trane Technologies (NYSE:TT) last released 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. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the previous year, the company earned $3.30 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Company 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.