Advisors Capital Management LLC Increases Stake in Trane Technologies plc $TT

Advisors Capital Management LLC grew its position in Trane Technologies plc (NYSE:TT) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 164,384 shares of the company’s stock after acquiring an additional 3,698 shares during the quarter. Advisors Capital Management LLC owned about 0.07% of Trane Technologies worth $55,384,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Minot DeBlois Advisors LLC purchased a new stake in shares of Trane Technologies in the fourth quarter valued at $26,000. WFA Asset Management Corp increased its stake in Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock worth $25,000 after purchasing an additional 50 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new stake in Trane Technologies in the fourth quarter worth $28,000. Saudi Central Bank purchased a new stake in Trane Technologies in the first quarter worth $30,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Trane Technologies in the first quarter worth $31,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction dated Tuesday, September 2nd. The stock was 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 in the company, valued at $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by company insiders.

Trane Technologies Price Performance

TT opened at $417.12 on Thursday. The business’s 50-day moving average is $432.76 and its two-hundred day moving average is $398.63. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The firm has a market capitalization of $92.81 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 2.55 and a beta of 1.10.

Trane Technologies (NYSE:TT) last posted its 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. 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 previous year, the firm earned $3.30 earnings per share. The firm’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. Research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TT shares. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Morgan Stanley raised their price target on Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Barclays raised their price target on Trane Technologies from $480.00 to $495.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and raised their price target for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Finally, UBS Group raised their price target on Trane Technologies from $500.00 to $544.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus price target of $458.60.

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.