Somerville Kurt F Cuts Stock Position in Trane Technologies plc $TT

Somerville Kurt F cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 8.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,293 shares of the company’s stock after selling 120 shares during the quarter. Somerville Kurt F’s holdings in Trane Technologies were worth $566,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TT. Csenge Advisory Group raised its stake in Trane Technologies by 0.6% during the 1st quarter. Csenge Advisory Group now owns 3,944 shares of the company’s stock valued at $1,314,000 after purchasing an additional 25 shares during the period. Confluence Wealth Services Inc. boosted its position in shares of Trane Technologies by 0.7% during the second quarter. Confluence Wealth Services Inc. now owns 3,609 shares of the company’s stock worth $1,579,000 after acquiring an additional 25 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its stake in Trane Technologies by 23.4% during the first quarter. CBIZ Investment Advisory Services LLC now owns 137 shares of the company’s stock valued at $46,000 after acquiring an additional 26 shares in the last quarter. Fiera Capital Corp increased its holdings 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 during the last quarter. Finally, Old Port Advisors lifted its stake in Trane Technologies by 3.7% in the 2nd quarter. Old Port Advisors now owns 754 shares of the company’s stock worth $330,000 after purchasing an additional 27 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

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 transaction of $9,223,770.00. Following the transaction, the chief executive officer directly owned 123,713 shares in the company, valued at approximately $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Barclays cut their price objective on Trane Technologies from $495.00 to $485.00 and set an “overweight” rating for the company in a research report on Tuesday, September 16th. Northcoast Research cut Trane Technologies from a “buy” rating to a “neutral” rating in a report on Friday, August 1st. Citigroup decreased their price objective on Trane Technologies from $499.00 to $494.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Wells Fargo & Company increased their target price on Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a research report on Monday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Saturday, September 27th. Six 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, the company has a consensus rating of “Hold” and a consensus target price of $457.73.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $422.93 on Wednesday. The stock has a market cap of $94.11 billion, a price-to-earnings ratio of 33.54, a price-to-earnings-growth ratio of 2.64 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The stock has a 50 day moving average price of $419.60 and a 200-day moving average price of $407.75. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18.

Trane Technologies (NYSE:TT) last released 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. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the prior year, the firm posted $3.30 EPS. Trane Technologies’s quarterly revenue was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Equities analysts expect 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.