Several large investors have changed their stakes in Trane Technologies. Vanguard Group increased its shares by 0.9%, now holding 18.89 million shares worth $5.67 billion after buying 174,251 additional shares. JPMorgan Chase upped its position by 0.5%, owning 17.39 million shares valued at $5.22 billion after purchase of 80,536 shares. Capital World Investors raised its stake by 0.6%, now owning 2.18 million shares worth $530.87 million after acquiring 11,930 shares. Mackenzie Financial increased its shares by 0.3%, now holding 1.09 million shares valued at $357.04 million after buying 2,898 shares. TD Asset Management saw the biggest jump, increasing its stake by 41.2%, now owning 1.06 million shares worth $318.40 million after purchasing 309,738 shares. Overall, institutional investors own 82.97% of the company.
Analyst Ratings
Analysts have updated their ratings for Trane Technologies (TT). Barclays raised its price target from $394 to $425 and rated it “overweight.” The Royal Bank of Canada increased its price target from $334 to $350 with a “sector perform” rating. Wells Fargo adjusted its target from $315 to $320, giving it an “underweight” rating. Stephens maintained an “equal weight” rating with a $350 target. Morgan Stanley began coverage with an “overweight” rating and a $425 target. Currently, one analyst rates it as a 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 on August 6 for $321.25 each, totaling $9.46 million. He now owns 132,946 shares valued at around $42.71 million. EVP Raymond D. Pittard sold 1,805 shares the next day for $328.65 each, totaling $593,213, and now owns 83,517 shares valued at approximately $27.45 million. Insiders hold 0.38% of the stock.
Stock Performance
Trane Technologies stock opened at $386.93. The company has a market capitalization of $87.58 billion, a PE ratio of 41.34, and a 1-year price range of $184.02 to $391.94. Recent earnings revealed $3.30 per share, exceeding the $3.08 estimate, with revenues of $5.31 billion.
Company Overview
Trane Technologies plc designs and manufactures heating, ventilation, air conditioning, and refrigeration solutions both in Ireland and globally.
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