First Hawaiian Bank Boosts Holdings in Trane Technologies plc (NYSE:TT)

First Hawaiian Bank boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,556 shares of the company’s stock after purchasing an additional 923 shares during the quarter. First Hawaiian Bank’s holdings in Trane Technologies were worth $7,223,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies during the 3rd quarter worth $27,000. Global Wealth Strategies & Associates purchased a new stake in Trane Technologies during the 4th quarter worth about $26,000. DT Investment Partners LLC acquired a new position in shares of Trane Technologies during the 3rd quarter worth about $36,000. Pittenger & Anderson Inc. purchased a new position in shares of Trane Technologies in the 3rd quarter valued at about $39,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Trane Technologies during the third quarter worth approximately $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were 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. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TT has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price objective 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. Robert W. Baird cut their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Mizuho raised their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Northcoast Research initiated coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $414.57.

Trane Technologies Price Performance

NYSE:TT traded up $6.23 during trading hours on Wednesday, hitting $386.19. The company’s stock had a trading volume of 973,005 shares, compared to its average volume of 1,241,565. The company has a market capitalization of $86.90 billion, a PE ratio of 35.82, a PEG ratio of 2.38 and a beta of 1.06. Trane Technologies plc has a 52-week low of $240.51 and a 52-week high of $422.00. The business’s 50-day moving average is $396.08 and its two-hundred day moving average is $370.78. 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 released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the previous year, the firm earned $2.79 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. As a group, research analysts anticipate that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

About Trane Technologies

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.