State of Alaska Department of Revenue Cuts Stock Position in Trane Technologies plc $TT

State of Alaska Department of Revenue cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 4.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,043 shares of the company’s stock after selling 1,230 shares during the quarter. State of Alaska Department of Revenue’s holdings in Trane Technologies were worth $10,954,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Trane Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company’s stock worth $6,555,377,000 after buying an additional 221,206 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock worth $5,297,235,000 after purchasing an additional 1,408,421 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Trane Technologies by 7.2% in the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock worth $1,208,044,000 after purchasing an additional 241,910 shares during the period. Nuveen LLC purchased a new position in Trane Technologies in the first quarter valued at approximately $877,468,000. Finally, Northern Trust Corp grew its holdings in Trane Technologies by 0.7% during the first quarter. Northern Trust Corp now owns 2,584,819 shares of the company’s stock valued at $870,877,000 after purchasing an additional 17,292 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TT has been the topic of several research reports. Royal Bank Of Canada boosted their target price on Trane Technologies from $463.00 to $467.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Barclays lowered their price objective on Trane Technologies from $495.00 to $485.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 16th. Wells Fargo & Company increased their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 1st. Robert W. Baird boosted their price target on shares of Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Finally, The Goldman Sachs Group raised their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $457.40.

Trane Technologies Stock Performance

NYSE:TT opened at $415.91 on Friday. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The firm has a market cap of $92.55 billion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 2.58 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. The business has a 50 day moving average price of $425.02 and a 200-day moving average price of $404.08.

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

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 22,497 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 123,713 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently 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.