Federated Hermes Inc. Cuts Stock Position in Trane Technologies plc $TT

Federated Hermes Inc. trimmed its position in Trane Technologies plc (NYSE:TT) by 17.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 537,302 shares of the company’s stock after selling 116,663 shares during the period. Federated Hermes Inc. owned approximately 0.24% of Trane Technologies worth $226,720,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. NorthRock Partners LLC increased its stake in shares of Trane Technologies by 1.2% during the second quarter. NorthRock Partners LLC now owns 2,052 shares of the company’s stock worth $898,000 after acquiring an additional 24 shares during the period. King Luther Capital Management Corp boosted its holdings in Trane Technologies by 1.3% in the 2nd quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock valued at $849,000 after purchasing an additional 24 shares in the last quarter. Old Port Advisors increased its position in Trane Technologies by 3.2% during the 3rd quarter. Old Port Advisors now owns 778 shares of the company’s stock worth $328,000 after purchasing an additional 24 shares during the period. OneAscent Wealth Management LLC raised its stake in shares of Trane Technologies by 1.5% during the 3rd quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock worth $686,000 after buying an additional 24 shares in the last quarter. Finally, Confluence Wealth Services Inc. lifted its holdings in shares of Trane Technologies by 0.7% in the 2nd quarter. Confluence Wealth Services Inc. now owns 3,609 shares of the company’s stock valued at $1,579,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, CAO Elizabeth A. Elwell sold 600 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total transaction of $264,000.00. Following the transaction, the chief accounting officer owned 7,148 shares of the company’s stock, valued at approximately $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

Trane Technologies Stock Performance

Trane Technologies stock opened at $392.83 on Wednesday. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The company has a market capitalization of $87.11 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 1.97 and a beta of 1.21. The stock has a fifty day moving average of $395.77 and a two-hundred day moving average of $415.15. 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 posted its quarterly earnings data on Thursday, October 30th. The company reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter last year, the company earned $3.37 earnings per share. The business’s revenue for the quarter 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. On average, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TT. Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a research report on Wednesday, January 7th. UBS Group cut their price target on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. Oppenheimer upgraded shares of Trane Technologies from a “market perform” rating to an “outperform” rating and set a $460.00 price objective for the company in a research note on Tuesday, January 20th. Barclays lowered their target price on shares of Trane Technologies from $506.00 to $505.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. Finally, KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a research report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $479.73.

Trane Technologies 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.