Cigna Investments Inc. New Trims Stock Holdings in Trane Technologies plc $TT

Cigna Investments Inc. New trimmed its holdings in Trane Technologies plc (NYSE:TT) by 4.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,188 shares of the company’s stock after selling 106 shares during the period. Cigna Investments Inc. New’s holdings in Trane Technologies were worth $957,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TT. Brighton Jones LLC raised its holdings in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after buying an additional 2,323 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of Trane Technologies in the fourth quarter worth approximately $1,908,000. Capstone Triton Financial Group LLC raised its holdings in shares of Trane Technologies by 8.2% in the fourth quarter. Capstone Triton Financial Group LLC now owns 4,359 shares of the company’s stock worth $1,610,000 after buying an additional 331 shares during the period. Anchor Pointe Wealth Management LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth approximately $200,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of Trane Technologies in the fourth quarter worth approximately $237,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Down 0.3%

Shares of NYSE TT opened at $404.10 on Thursday. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $89.92 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 2.52 and a beta of 1.10. The stock’s fifty day simple moving average is $426.51 and its two-hundred day simple moving average is $402.60. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18.

Trane Technologies (NYSE:TT) last announced 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. The business had revenue of $5.75 billion for 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 business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on TT shares. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Barclays reduced their price objective on Trane Technologies from $495.00 to $485.00 and set an “overweight” rating on the stock in a report on Tuesday, September 16th. Citigroup reduced 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 raised their price objective on Trane Technologies from $370.00 to $410.00 and gave the stock an “underweight” rating in a report on Tuesday, July 1st. Finally, Robert W. Baird raised their price objective on Trane Technologies from $396.00 to $450.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $457.40.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 123,713 shares of the company’s stock, valued at $50,722,330. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.