Several major investors have adjusted their holdings in Trane Technologies. Vanguard Group increased its stake by 0.9%, now owning 18.9 million shares valued at $5.67 billion. JPMorgan Chase raised its stake by 0.5%, owning 17.4 million shares worth $5.22 billion. Capital World Investors increased its position by 0.6%, owning 2.18 million shares valued at $530.87 million. Mackenzie Financial Corp raised its stake by 0.3%, owning 1.08 million shares worth $357.04 million. TD Asset Management dramatically increased its stake by 41.2%, owning 1.06 million shares worth $318.40 million. Overall, institutional investors hold 82.97% of the company’s stock.
Analyst Ratings
Analysts have made various adjustments to Trane Technologies (TT) ratings. Barclays raised their price target from $394 to $425 with an “overweight” rating. Royal Bank of Canada increased their target from $334 to $350, rating it a “sector perform.” Wells Fargo raised theirs from $315 to $320, giving it an “underweight” rating. Stephens maintained an “equal weight” rating with a target of $350. Morgan Stanley began coverage with an “overweight” rating and a $425 price target. In total, one analyst rated it as sell, seven as hold, and five as buy, with an average rating of “Hold” and 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 at $321.25 each on August 6, totaling $9.46 million. Post-sale, he owns 132,946 shares valued at approximately $42.71 million. EVP Raymond D. Pittard sold 1,805 shares on August 7 for $328.65 each, totaling $593,213.25. He now holds 83,517 shares valued at about $27.45 million. Insiders own 0.38% of the company.
Stock Performance
Trane Technologies stock opened at $386.93. It has a 50-day moving average of $353.95 and a 200-day average of $331.68. The market cap is $87.58 billion with a PE ratio of 41.34 and a beta of 1.01. The stock’s 1-year low is $184.02 and its high is $391.94. In its last earnings report, the company posted $3.30 EPS, exceeding estimates of $3.08, with revenue of $5.31 billion.
Company Overview
Trane Technologies designs, produces, sells, and services heating, ventilation, and air conditioning solutions. Their offerings include air conditioners, heat pumps, chillers, thermostats, and more.
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