Trane Technologies plc (NYSE:TT) Position Boosted by Ballentine Partners LLC

Ballentine Partners LLC lifted its holdings in Trane Technologies plc (NYSE:TT) by 11.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,952 shares of the company’s stock after purchasing an additional 304 shares during the period. Ballentine Partners LLC’s holdings in Trane Technologies were worth $1,090,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Tidal Investments LLC raised its holdings in Trane Technologies by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after buying an additional 2,874 shares during the period. Synovus Financial Corp lifted its position in shares of Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after acquiring an additional 1,271 shares in the last quarter. GDS Wealth Management boosted its stake in Trane Technologies by 4.3% in the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after purchasing an additional 2,124 shares during the period. Albar Capital Ltd purchased a new position in Trane Technologies during the 2nd quarter worth approximately $14,556,000. Finally, King Wealth Management Group acquired a new stake in Trane Technologies during the 3rd quarter valued at $1,879,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.38% of the stock is owned by company insiders.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $399.35 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average price of $394.99 and a 200 day moving average price of $374.68. The company has a market cap of $89.86 billion, a price-to-earnings ratio of 37.05, a PEG ratio of 2.11 and a beta of 1.06. Trane Technologies plc has a twelve month low of $249.21 and a twelve month high of $422.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $2.79 earnings per share. Research analysts predict that Trane Technologies plc will post 11.15 earnings per share for the current year.

Analyst Ratings Changes

TT has been the topic of a number of research analyst reports. Citigroup lowered their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Mizuho lifted their target price on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird reduced their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. lowered their price objective on shares of Trane Technologies from $390.00 to $387.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Finally, Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $420.64.

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.