First National Trust Co Cuts Stake in Trane Technologies plc (NYSE:TT)

First National Trust Co lowered its position in shares of Trane Technologies plc (NYSE:TT) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,502 shares of the company’s stock after selling 48 shares during the period. First National Trust Co’s holdings in Trane Technologies were worth $494,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TT. Norges Bank bought a new stake in Trane Technologies during the fourth quarter valued at about $655,804,000. Swedbank AB bought a new stake in Trane Technologies during the first quarter valued at about $206,211,000. TD Asset Management Inc boosted its position in Trane Technologies by 719.8% during the fourth quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock valued at $183,143,000 after purchasing an additional 659,299 shares in the last quarter. Putnam Investments LLC boosted its position in Trane Technologies by 27,824.4% during the fourth quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock valued at $139,689,000 after purchasing an additional 570,679 shares in the last quarter. Finally, Kodai Capital Management LP bought a new stake in Trane Technologies during the fourth quarter valued at about $77,615,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TT shares. Wells Fargo & Company raised their price objective on Trane Technologies from $310.00 to $315.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Royal Bank of Canada raised their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Stephens reissued an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. Barclays raised their price target on Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Robert W. Baird raised their price target on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $323.29.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Trane Technologies Trading Down 1.0 %

Trane Technologies stock opened at $342.91 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $363.15. The company has a market capitalization of $77.62 billion, a price-to-earnings ratio of 36.64, a price-to-earnings-growth ratio of 2.51 and a beta of 1.01. The stock has a 50-day moving average price of $338.21 and a 200 day moving average price of $319.22.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.68 earnings per share. Sell-side analysts anticipate that Trane Technologies plc will post 10.82 EPS for the current 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.