Anchor Capital Advisors LLC Decreases Position in Trane Technologies plc $TT

Anchor Capital Advisors LLC decreased its position in shares of Trane Technologies plc (NYSE:TT) by 3.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,473 shares of the company’s stock after selling 2,123 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Trane Technologies were worth $26,361,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Icon Advisers Inc. Co. bought a new stake in shares of Trane Technologies in the 2nd quarter worth $26,000. Financial Consulate Inc. purchased a new stake in shares of Trane Technologies during the third quarter valued at $25,000. Ameriflex Group Inc. purchased a new stake in shares of Trane Technologies during the second quarter valued at $28,000. Hantz Financial Services Inc. increased its holdings in Trane Technologies by 1,016.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after buying an additional 61 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC raised its position in Trane Technologies by 34.2% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock worth $43,000 after buying an additional 26 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TT. Wells Fargo & Company reduced their price target on shares of Trane Technologies from $415.00 to $375.00 and set an “underweight” rating for the company in a research note on Friday, December 19th. Melius raised 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. Royal Bank Of Canada increased their price target on Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target on the stock in a research note on Monday, December 15th. Finally, Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $490.00 to $550.00 in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $474.63.

Insiders Place Their Bets

In other Trane Technologies 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 value of $264,000.00. Following the completion of the transaction, the chief accounting officer directly owned 7,148 shares in the company, valued at $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Trane Technologies Stock Performance

NYSE:TT opened at $386.92 on Wednesday. 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 has a 50-day simple moving average of $398.12 and a two-hundred day simple moving average of $416.61. The firm has a market capitalization of $85.79 billion, a PE ratio of 29.76, a P/E/G ratio of 1.95 and a beta of 1.21. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18.

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