Trane Technologies plc (NYSE:TT) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. reduced its holdings in Trane Technologies plc (NYSE:TT) by 16.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,290 shares of the company’s stock after selling 250 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Trane Technologies were worth $424,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. PFG Private Wealth Management LLC lifted its holdings in shares of Trane Technologies by 4.7% in the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock valued at $232,000 after buying an additional 32 shares during the period. Center for Financial Planning Inc. lifted its holdings in shares of Trane Technologies by 1.7% in the 1st quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock valued at $624,000 after buying an additional 34 shares during the period. Muirfield Wealth Advisors LLC lifted its holdings in shares of Trane Technologies by 4.1% in the 2nd quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $309,000 after buying an additional 37 shares during the period. Pure Financial Advisors LLC lifted its holdings in shares of Trane Technologies by 5.2% in the 2nd quarter. Pure Financial Advisors LLC now owns 765 shares of the company’s stock valued at $252,000 after buying an additional 38 shares during the period. Finally, Simmons Bank raised its holdings in Trane Technologies by 5.6% during the second quarter. Simmons Bank now owns 718 shares of the company’s stock worth $236,000 after purchasing an additional 38 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Trane Technologies news, 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 transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $364.23 on Friday. The stock has a market cap of $82.44 billion, a price-to-earnings ratio of 38.91, a price-to-earnings-growth ratio of 2.45 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 fifty-two week low of $184.02 and a fifty-two week high of $366.21. The business has a fifty day moving average of $341.06 and a 200-day moving average of $322.54.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The business 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 business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.68 earnings per share. As a group, analysts predict that Trane Technologies plc will post 10.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on TT. Robert W. Baird lifted their price objective on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Morgan Stanley began coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective for the company. Barclays lifted their price objective on Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Finally, UBS Group lifted their price objective on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. 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. According to MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average target price of $337.29.

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.