Mutual of America Capital Management LLC Reduces Position in Trane Technologies plc $TT

Mutual of America Capital Management LLC trimmed its stake in Trane Technologies plc (NYSE:TT) by 5.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 29,370 shares of the company’s stock after selling 1,622 shares during the period. Mutual of America Capital Management LLC’s holdings in Trane Technologies were worth $12,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Trane Technologies by 1.7% in the second quarter. Vanguard Group Inc. now owns 19,792,410 shares of the company’s stock worth $8,657,398,000 after buying an additional 335,634 shares during the period. State Street Corp increased its holdings in Trane Technologies by 0.3% in the 2nd quarter. State Street Corp now owns 10,077,267 shares of the company’s stock worth $4,407,904,000 after acquiring an additional 31,826 shares in the last quarter. Geode Capital Management LLC raised its stake in Trane Technologies by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock worth $2,164,764,000 after acquiring an additional 56,293 shares during the period. Norges Bank bought a new position in shares of Trane Technologies in the second quarter worth approximately $1,356,065,000. Finally, Nordea Investment Management AB increased its stake in shares of Trane Technologies by 2.4% in the third quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock worth $1,051,049,000 after purchasing an additional 57,774 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total transaction of $264,000.00. Following the sale, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at $3,145,120. The trade was a 7.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on TT. Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $490.00 to $550.00 in a report on Thursday, November 13th. Royal Bank Of Canada increased their target price on Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a research report on Friday, October 31st. Wells Fargo & Company lowered their price target on Trane Technologies from $415.00 to $375.00 and set an “underweight” rating on the stock in a report on Friday, December 19th. Morgan Stanley reduced their price objective on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Finally, Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price for the company in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $479.73.

Trane Technologies Stock Up 2.2%

NYSE TT opened at $394.59 on Tuesday. The stock has a 50 day moving average price of $396.06 and a 200-day moving average price of $415.46. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. The company has a market capitalization of $87.50 billion, a P/E ratio of 30.35, a P/E/G ratio of 1.93 and a beta of 1.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.20.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, October 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.80 by $0.08. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same quarter last year, the business earned $3.37 earnings per share. Trane Technologies’s quarterly revenue was up 5.5% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.