Busey Bank Trims Stock Holdings in Trane Technologies plc (NYSE:TT)

Busey Bank cut its stake in Trane Technologies plc (NYSE:TT) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 934 shares of the company’s stock after selling 42 shares during the period. Busey Bank’s holdings in Trane Technologies were worth $345,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TT. MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies during the third quarter worth about $27,000. Global Wealth Strategies & Associates bought a new position in Trane Technologies during the 4th quarter worth approximately $26,000. DT Investment Partners LLC acquired a new position in shares of Trane Technologies in the 3rd quarter worth approximately $36,000. Sound Income Strategies LLC raised its position in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares in the last quarter. Finally, Pittenger & Anderson Inc. bought a new position in Trane Technologies during the third quarter worth $39,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $366.12 on Friday. Trane Technologies plc has a 1 year low of $250.79 and a 1 year high of $422.00. The firm has a market cap of $82.38 billion, a P/E ratio of 33.96, a PEG ratio of 2.16 and a beta of 1.06. The stock has a fifty day moving average price of $391.62 and a two-hundred day moving average price of $376.27. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Research analysts forecast that Trane Technologies plc will post 11.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research reports. The Goldman Sachs Group increased their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Citigroup decreased their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Mizuho increased their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. UBS Group assumed coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $417.81.

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Company 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.