Several large investors have adjusted their stakes in Trane Technologies. In the first quarter, Vanguard Group increased its shares by 0.9%, owning 18,887,514 shares worth $5.67 billion after adding 174,251 shares. JPMorgan Chase raised its position by 0.5%, now holding 17,393,733 shares valued at $5.22 billion. Capital World Investors grew by 0.6%, owning 2,176,595 shares worth $530.87 million. Mackenzie Financial increased by 0.3%, holding 1,085,468 shares worth $357.04 million. TD Asset Management saw the largest gain, increasing its position by 41.2% to own 1,060,632 shares valued at $318.40 million. Overall, institutional investors own 82.97% of the company.
Analyst Upgrades and Downgrades
Analysts have been updating their ratings for Trane Technologies (TT). Barclays raised its price target from $394 to $425, rating it “overweight.” Royal Bank of Canada increased their target from $334 to $350 with a “sector perform” rating. Wells Fargo raised their target from $315 to $320 with an “underweight” rating. Stephens maintained an “equal weight” rating with a $350 target. Morgan Stanley began coverage with an “overweight” rating at a $425 target. Currently, one analyst rates it a sell, seven hold, and five buy, with an average rating of “Hold” and a target price of $345.92.
Read Our Latest Research Report on Trane Technologies
Insider Transactions at Trane Technologies
Recently, CEO David S. Regnery sold 29,450 shares for approximately $9.46 million at $321.25 each, retaining 132,946 shares worth about $42.71 million. EVP Raymond D. Pittard also sold 1,805 shares for around $593,213.25 at $328.65 each, now holding 83,517 shares valued at approximately $27.45 million. Insiders own 0.38% of the company.
Trane Technologies Stock Performance
Trane Technologies stock opened at $386.93. The 50-day moving average is $353.95, and the 200-day is $331.68. The market cap is $87.58 billion with a PE ratio of 41.34. The stock has ranged from a low of $184.02 to a high of $391.94 in the past year. The company reported $3.30 EPS for Q2, exceeding expectations of $3.08, with revenue of $5.31 billion (above the expected $5.13 billion) and a year-on-year revenue increase of 12.8%.
Trane Technologies Profile
Trane Technologies plc designs and manufactures heating, ventilation, and air conditioning solutions, including various air conditioning systems and refrigeration products.
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