Trane Technologies plc (NYSE:TT) Stock Holdings Boosted by AGF Management Ltd.

AGF Management Ltd. raised its position in shares of Trane Technologies plc (NYSE:TT) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,190 shares of the company’s stock after purchasing an additional 1,315 shares during the quarter. AGF Management Ltd.’s holdings in Trane Technologies were worth $13,220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Norges Bank bought a new position in Trane Technologies during the 4th quarter valued at $655,804,000. Swedbank AB acquired a new stake in shares of Trane Technologies during the 1st quarter valued at $206,211,000. TD Asset Management Inc lifted its position in shares of Trane Technologies by 719.8% during the 4th quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock valued at $183,143,000 after acquiring an additional 659,299 shares during the last quarter. Putnam Investments LLC lifted its position in shares of Trane Technologies by 27,824.4% during the 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock valued at $139,689,000 after acquiring an additional 570,679 shares during the last quarter. Finally, Kodai Capital Management LP acquired a new stake in shares of Trane Technologies during the 4th quarter valued at $77,615,000. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO David S. Regnery sold 29,450 shares of Trane Technologies 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 in the company, valued at $42,708,902.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies 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 completion of the transaction, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

NYSE TT opened at $354.31 on Thursday. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $363.15. The stock’s 50-day moving average is $339.85 and its two-hundred day moving average is $321.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. The firm has a market cap of $79.96 billion, a P/E ratio of 37.85, a price-to-earnings-growth ratio of 2.38 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period last year, the company earned $2.68 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. On average, analysts anticipate that Trane Technologies plc will post 10.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Stephens restated an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. UBS Group increased their target price on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Morgan Stanley started coverage on shares of Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. Finally, Barclays upped their price target on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $337.29.

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.