Ashton Thomas Private Wealth LLC Grows Holdings in Trane Technologies plc (NYSE:TT)

Ashton Thomas Private Wealth LLC raised its position in Trane Technologies plc (NYSE:TT) by 48.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,547 shares of the company’s stock after purchasing an additional 832 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Trane Technologies were worth $838,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trium Capital LLP increased its position in shares of Trane Technologies by 1.8% during the second quarter. Trium Capital LLP now owns 4,920 shares of the company’s stock valued at $1,618,000 after acquiring an additional 85 shares during the last quarter. Ballentine Partners LLC increased its position in shares of Trane Technologies by 17.5% during the 2nd quarter. Ballentine Partners LLC now owns 2,346 shares of the company’s stock valued at $772,000 after purchasing an additional 349 shares during the last quarter. Caprock Group LLC raised its stake in shares of Trane Technologies by 93.3% during the 2nd quarter. Caprock Group LLC now owns 3,863 shares of the company’s stock worth $1,271,000 after purchasing an additional 1,865 shares during the period. Certuity LLC boosted its holdings in shares of Trane Technologies by 36.2% in the 2nd quarter. Certuity LLC now owns 1,313 shares of the company’s stock worth $432,000 after buying an additional 349 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Trane Technologies by 470.4% in the 2nd quarter. Acadian Asset Management LLC now owns 84,092 shares of the company’s stock worth $27,651,000 after buying an additional 69,350 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.2 %

Shares of NYSE TT opened at $346.16 on Wednesday. The business has a 50-day simple moving average of $339.38 and a two-hundred day simple moving average of $321.22. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $363.15. The company has a market cap of $78.12 billion, a P/E ratio of 36.98, a P/E/G ratio of 2.38 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 (NYSE:TT) last posted its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the prior year, the firm posted $2.68 EPS. Trane Technologies’s revenue was up 12.8% on a year-over-year basis. Research analysts anticipate that Trane Technologies plc will post 10.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction 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 sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Trane Technologies news, 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 value of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was 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 directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

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.