Bank of New York Mellon Corp Sells 70,671 Shares of Trane Technologies plc $TT

Bank of New York Mellon Corp lessened its holdings in shares of Trane Technologies plc (NYSE:TT) by 2.8% during the third quarter, Holdings Channel.com reports. The firm owned 2,491,479 shares of the company’s stock after selling 70,671 shares during the quarter. Bank of New York Mellon Corp’s holdings in Trane Technologies were worth $1,051,304,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ballentine Partners LLC lifted its holdings in Trane Technologies by 6.6% in the third quarter. Ballentine Partners LLC now owns 4,753 shares of the company’s stock valued at $2,006,000 after buying an additional 295 shares during the period. Tobias Financial Advisors Inc. boosted its holdings in Trane Technologies by 16.4% in the third quarter. Tobias Financial Advisors Inc. now owns 950 shares of the company’s stock worth $401,000 after acquiring an additional 134 shares in the last quarter. Truist Financial Corp grew its stake in Trane Technologies by 1.7% in the third quarter. Truist Financial Corp now owns 392,953 shares of the company’s stock valued at $165,810,000 after acquiring an additional 6,430 shares during the period. Little House Capital LLC increased its holdings in shares of Trane Technologies by 1.3% during the third quarter. Little House Capital LLC now owns 2,062 shares of the company’s stock valued at $870,000 after acquiring an additional 26 shares in the last quarter. Finally, Pines Wealth Management LLC raised its position in shares of Trane Technologies by 138.0% during the third quarter. Pines Wealth Management LLC now owns 3,022 shares of the company’s stock worth $1,275,000 after purchasing an additional 1,752 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Trading Down 0.3%

NYSE:TT opened at $392.83 on Wednesday. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The firm has a 50-day moving average price of $395.77 and a two-hundred day moving average price of $415.15. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.20. The firm has a market cap of $87.11 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 1.97 and a beta of 1.21.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.08. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.80 billion. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.Trane Technologies’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Insider Activity at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $440.00, for a total transaction of $264,000.00. Following the completion of the transaction, the chief accounting officer owned 7,148 shares in the company, valued at approximately $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on TT shares. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a report on Wednesday, January 7th. Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. Finally, Citigroup increased their price objective on Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $479.73.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.