Axa S.A. Sells 97,327 Shares of Trane Technologies plc (NYSE:TT)

Axa S.A. cut its position in Trane Technologies plc (NYSE:TT) by 37.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 159,595 shares of the company’s stock after selling 97,327 shares during the quarter. Axa S.A. owned approximately 0.07% of Trane Technologies worth $52,496,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in shares of Trane Technologies by 138.0% during the first quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock valued at $2,001,000 after acquiring an additional 3,866 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Trane Technologies by 3.0% during the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock valued at $135,796,000 after acquiring an additional 13,078 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Trane Technologies by 379.2% during the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after acquiring an additional 242,271 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Trane Technologies during the fourth quarter valued at about $3,086,000. Finally, Capital World Investors increased its holdings in shares of Trane Technologies by 0.6% during the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock valued at $530,870,000 after acquiring an additional 11,930 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the topic of several recent analyst reports. Morgan Stanley initiated coverage on shares of Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective on the stock. Wells Fargo & Company increased their price target on shares of Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Robert W. Baird increased their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. UBS Group increased their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Finally, Barclays increased their price target on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average target price of $343.54.

Trane Technologies Trading Up 1.0 %

Trane Technologies stock opened at $387.70 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $390.60. The stock’s 50 day simple moving average is $346.45 and its two-hundred day simple moving average is $327.42. The firm has a market cap of $87.49 billion, a PE ratio of 41.29, a P/E/G ratio of 2.68 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the prior year, the firm posted $2.68 EPS. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. Analysts anticipate that Trane Technologies plc will post 10.87 earnings per share for the current year.

Trane Technologies Profile

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.