Several large investors increased or decreased their stakes in Trane Technologies. Vanguard Group raised its holdings by 0.9%, now owning 18,887,514 shares valued at $5.67 billion after buying 174,251 additional shares. JPMorgan Chase increased its stake by 0.5%, owning 17,393,733 shares worth $5.22 billion after acquiring 80,536 shares. Capital World Investors’ position grew by 0.6%, owning 2,176,595 shares valued at $530.87 million, while Mackenzie Financial raised its stake by 0.3%, with 1,085,468 shares worth $357.04 million. TD Asset Management’s position surged by 41.2%, owning 1,060,632 shares valued at $318.40 million after purchasing 309,738 shares. Overall, institutional investors hold 82.97% of the stock.
Analyst Upgrades and Downgrades
Analysts have provided mixed ratings on Trane Technologies’ shares. Barclays raised the price target from $394 to $425 with an “overweight” rating. Royal Bank of Canada increased its target from $334 to $350, rating it “sector perform.” Wells Fargo adjusted its target to $320 but gave an “underweight” rating. Stephens maintained an “equal weight” rating with a target of $350. Morgan Stanley initiated coverage with an “overweight” rating and a target of $425. Currently, one analyst rates it as a sell, seven as hold, and five as buy. The average rating is “Hold,” with a consensus target price of $345.92.
Read Our Latest Research Report on Trane Technologies
Insider Transactions
CEO David S. Regnery sold 29,450 shares on August 6th for about $9.46 million, now holding 132,946 shares valued at $42.71 million. EVP Raymond D. Pittard sold 1,805 shares on August 7th for approximately $593,213, retaining 83,517 shares worth around $27.45 million. Insiders currently own 0.38% of the company.
Trane Technologies Stock Performance
Trane Technologies opened at $386.93. The company has a market cap of $87.58 billion, with a PE ratio of 41.34 and 12.33% net margin. Recent earnings showed $3.30 per share, surpassing estimates, and revenue of $5.31 billion, reflecting a 12.8% year-over-year increase.
Company Overview
Trane Technologies plc designs and sells heating, ventilation, and air conditioning solutions globally. Products include air conditioners, heat pumps, chillers, and more.
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