Several major investors have changed their stakes in Trane Technologies. Vanguard increased its holdings by 0.9%, owning 18,887,514 shares worth $5.67 billion after buying 174,251 additional shares. JPMorgan also raised its position by 0.5%, now holding 17,393,733 shares valued at $5.22 billion after purchasing 80,536 shares. Capital World Investors increased its share by 0.6%, owning 2,176,595 shares worth $530.87 million, while Mackenzie Financial Corp added 0.3% to its position with 1,085,468 shares worth $357.04 million. Finally, TD Asset Management grew its stake significantly by 41.2%, now holding 1,060,632 shares valued at $318.4 million. Overall, institutional investors own 82.97% of the company.
Analyst Ratings
Analysts have varied opinions on Trane Technologies’ stock. Barclays raised their price target from $394 to $425 with an “overweight” rating. The Royal Bank of Canada increased its target from $334 to $350, rating it “sector perform.” Wells Fargo raised its target from $315 to $320, giving it an “underweight” rating. Stephens maintained an “equal weight” rating with a $350 target. Morgan Stanley also began coverage with an “overweight” rating and a $425 price target. Currently, one analyst rated it as a sell, seven gave it a hold rating, and five rated it as a buy, resulting in an average rating of “Hold” with a target price of $345.92.
Read Our Latest Research Report on Trane Technologies
Insider Sales
CEO David S. Regnery sold 29,450 shares on August 6 at an average price of $321.25, totaling $9,460,812.50. He now owns 132,946 shares worth about $42.7 million. EVP Raymond D. Pittard sold 1,805 shares on August 7 for $593,213.25, leaving him with 83,517 shares valued at around $27.45 million. Insiders hold 0.38% of the company.
Stock Performance
Trane Technologies stock opened at $386.93. Its 50-day and 200-day moving averages are $353.95 and $331.68, respectively. The company has a market cap of $87.58 billion, a PE ratio of 41.34, and its stock ranged from a low of $184.02 to a high of $391.94 over the past year.
Trane Technologies reported $3.30 earnings per share on July 31, exceeding expectations of $3.08. The company’s revenue for the quarter was $5.31 billion, surpassing estimates of $5.13 billion, with a year-over-year revenue increase of 12.8%. Analysts predict earnings per share of 10.87 for this fiscal year.
Company Overview
(Free Report) Trane Technologies plc designs, manufactures, and sells HVAC solutions and refrigeration products globally.
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