Parsons Capital Management Inc. RI Grows Position in Trane Technologies plc $TT

Parsons Capital Management Inc. RI boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,751 shares of the company’s stock after purchasing an additional 59 shares during the period. Parsons Capital Management Inc. RI’s holdings in Trane Technologies were worth $3,828,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Csenge Advisory Group lifted its stake in Trane Technologies by 0.6% during the 1st quarter. Csenge Advisory Group now owns 3,944 shares of the company’s stock valued at $1,314,000 after acquiring an additional 25 shares during the period. CBIZ Investment Advisory Services LLC lifted its stake in Trane Technologies by 23.4% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 137 shares of the company’s stock valued at $46,000 after acquiring an additional 26 shares during the period. Fiera Capital Corp lifted its stake in Trane Technologies by 1.4% during the 1st quarter. Fiera Capital Corp now owns 1,930 shares of the company’s stock valued at $650,000 after acquiring an additional 27 shares during the period. Old Port Advisors lifted its stake in Trane Technologies by 3.7% during the 2nd quarter. Old Port Advisors now owns 754 shares of the company’s stock valued at $330,000 after acquiring an additional 27 shares during the period. Finally, Bingham Private Wealth LLC lifted its stake in Trane Technologies by 3.2% during the 1st quarter. Bingham Private Wealth LLC now owns 944 shares of the company’s stock valued at $318,000 after acquiring an additional 29 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Trane Technologies stock opened at $425.69 on Thursday. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The firm has a market capitalization of $94.72 billion, a price-to-earnings ratio of 33.76, a PEG ratio of 2.62 and a beta of 1.12. The company has a fifty day simple moving average of $423.26 and a 200-day simple moving average of $405.26. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the prior year, the firm posted $3.30 earnings per share. Trane Technologies’s quarterly revenue was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Insider Activity

In related news, CEO David S. Regnery sold 22,497 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the completion of the sale, the chief executive officer owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on TT shares. Barclays decreased their price objective on shares of Trane Technologies from $495.00 to $485.00 and set an “overweight” rating for the company in a research note on Tuesday, September 16th. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Citigroup decreased their target price on shares of Trane Technologies from $499.00 to $494.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the company an “underweight” rating in a research note on Tuesday, July 1st. Finally, Royal Bank Of Canada boosted their target price on shares of Trane Technologies from $463.00 to $467.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $457.40.

Trane Technologies Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.