Massachusetts Financial Services Co. MA Trims Stake in Trane Technologies plc $TT

by · The Cerbat Gem

Massachusetts Financial Services Co. MA cut its position in shares of Trane Technologies plc (NYSE:TT – Free Report) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,118,434 shares of the company’s stock after selling 50,356 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.95% of Trane Technologies worth $893,894,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Financial Consulate Inc. purchased a new stake in shares of Trane Technologies in the third quarter worth approximately $25,000. Icon Advisers Inc. Co. bought a new position in Trane Technologies in the 2nd quarter valued at $26,000. Ameriflex Group Inc. bought a new position in Trane Technologies in the 2nd quarter valued at $28,000. Hantz Financial Services Inc. lifted its position in shares of Trane Technologies by 1,016.7% during the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after purchasing an additional 61 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC boosted its stake in shares of Trane Technologies by 34.2% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after purchasing an additional 26 shares during the period. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock opened at $389.21 on Friday. The stock’s 50-day moving average is $399.69 and its 200 day moving average is $417.44. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.20 and a quick ratio of 0.84. The company has a market cap of $86.30 billion, a P/E ratio of 29.94, a PEG ratio of 1.95 and a beta of 1.21.

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

Insiders Place Their Bets

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the transaction, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at approximately $3,145,120. The trade was a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on TT. Melius upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a report on Wednesday, January 7th. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a report on Monday, December 15th. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Wells Fargo & Company lowered their target price on Trane Technologies from $415.00 to $375.00 and set an “underweight” rating for the company in a report on Friday, December 19th. Finally, UBS Group cut their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Moderate Buy” and an average price target of $475.60.

View Our Latest Stock Report on Trane Technologies

Trane Technologies Company Profile

(Free Report)

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.

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