Trane Technologies plc $TT Shares Sold by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS decreased its stake in Trane Technologies plc (NYSE:TT) by 2.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 108,683 shares of the company’s stock after selling 3,000 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Trane Technologies were worth $45,860,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TT. NorthRock Partners LLC lifted its stake in shares of Trane Technologies by 1.2% in the 2nd quarter. NorthRock Partners LLC now owns 2,052 shares of the company’s stock valued at $898,000 after purchasing an additional 24 shares during the period. King Luther Capital Management Corp increased its holdings in Trane Technologies by 1.3% in the second quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock valued at $849,000 after buying an additional 24 shares in the last quarter. Old Port Advisors increased its holdings in Trane Technologies by 3.2% in the third quarter. Old Port Advisors now owns 778 shares of the company’s stock valued at $328,000 after buying an additional 24 shares in the last quarter. Confluence Wealth Services Inc. raised its position in shares of Trane Technologies by 0.7% in the second quarter. Confluence Wealth Services Inc. now owns 3,609 shares of the company’s stock worth $1,579,000 after acquiring an additional 25 shares during the period. Finally, Busey Bank boosted its stake in shares of Trane Technologies by 3.0% during the 3rd quarter. Busey Bank now owns 871 shares of the company’s stock worth $368,000 after acquiring an additional 25 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Royal Bank Of Canada upped their price target on Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a report on Friday, October 31st. UBS Group reduced their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research note on Monday. Citigroup lifted their price target on shares of Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a research note on Friday, October 31st. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective for the company in a research report on Monday, December 15th. Finally, Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $415.00 to $375.00 and set an “underweight” rating on the stock in a report on Friday, December 19th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average price target of $467.80.

Trane Technologies Trading Down 2.5%

Shares of TT stock opened at $381.05 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 debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.20. The stock’s fifty day moving average is $408.35 and its two-hundred day moving average is $419.98. The firm has a market capitalization of $84.49 billion, a P/E ratio of 29.31, a PEG ratio of 1.98 and a beta of 1.21.

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

Insider Buying and Selling

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the firm’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 value of $264,000.00. Following the transaction, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at $3,145,120. This trade represents a 7.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.

About Trane Technologies

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.