Kornitzer Capital Management Inc. KS Buys 625 Shares of Trane Technologies plc (NYSE:TT)

Kornitzer Capital Management Inc. KS grew its stake in shares of Trane Technologies plc (NYSE:TT) by 15.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,625 shares of the company’s stock after purchasing an additional 625 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Trane Technologies were worth $1,521,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nottingham Advisors Inc. bought a new stake in Trane Technologies during the 2nd quarter worth approximately $278,000. Meridian Wealth Advisors LLC increased its holdings in Trane Technologies by 3.9% during the 2nd quarter. Meridian Wealth Advisors LLC now owns 23,253 shares of the company’s stock worth $7,648,000 after purchasing an additional 881 shares in the last quarter. FineMark National Bank & Trust increased its holdings in Trane Technologies by 0.4% during the 2nd quarter. FineMark National Bank & Trust now owns 55,085 shares of the company’s stock worth $18,119,000 after purchasing an additional 234 shares in the last quarter. Birchcreek Wealth Management LLC increased its holdings in Trane Technologies by 12.3% during the 2nd quarter. Birchcreek Wealth Management LLC now owns 1,709 shares of the company’s stock worth $562,000 after purchasing an additional 187 shares in the last quarter. Finally, Consolidated Planning Corp increased its holdings in Trane Technologies by 6.4% during the 2nd quarter. Consolidated Planning Corp now owns 10,880 shares of the company’s stock worth $3,579,000 after purchasing an additional 651 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated 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 completion of the sale, 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 Securities & Exchange Commission, which is accessible through this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. UBS Group boosted their target price on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Robert W. Baird boosted their target price on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Stephens restated an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Finally, Barclays boosted their target price on Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $337.29.

Trane Technologies Price Performance

TT opened at $342.07 on Friday. The stock has a market cap of $77.43 billion, a PE ratio of 36.55, a P/E/G ratio of 2.51 and a beta of 1.01. 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 business’s fifty day simple moving average is $338.47 and its 200 day simple moving average is $319.71.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same period in the prior year, the business posted $2.68 earnings per share. The company’s revenue was up 12.8% on a year-over-year basis. As a group, research analysts expect that Trane Technologies plc will post 10.82 earnings per share 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.