Bokf Na Lowers Stake in Trane Technologies plc (NYSE:TT)

Bokf Na lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 40.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,274 shares of the company’s stock after selling 1,563 shares during the quarter. Bokf Na’s holdings in Trane Technologies were worth $748,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. LPL Financial LLC lifted its stake in shares of Trane Technologies by 15.8% during the second quarter. LPL Financial LLC now owns 142,879 shares of the company’s stock worth $46,997,000 after purchasing an additional 19,521 shares in the last quarter. AGF Management Ltd. lifted its stake in shares of Trane Technologies by 3.4% in the second quarter. AGF Management Ltd. now owns 40,190 shares of the company’s stock worth $13,220,000 after acquiring an additional 1,315 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of Trane Technologies by 6.8% in the second quarter. Coldstream Capital Management Inc. now owns 4,680 shares of the company’s stock worth $1,539,000 after acquiring an additional 298 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Trane Technologies by 4.3% in the second quarter. Daiwa Securities Group Inc. now owns 69,782 shares of the company’s stock worth $22,954,000 after acquiring an additional 2,860 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted its stake in shares of Trane Technologies by 7.3% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 1,888 shares of the company’s stock worth $621,000 after acquiring an additional 128 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT opened at $364.23 on Monday. The stock has a fifty day moving average of $341.06 and a 200-day moving average of $322.81. The firm has a market capitalization of $82.44 billion, a P/E ratio of 38.91, a PEG ratio of 2.45 and a beta of 1.01. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $366.21. 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 released its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates 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 for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.68 earnings per share. Equities analysts forecast that Trane Technologies plc will post 10.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TT has been the subject of several research analyst reports. Barclays boosted their price objective on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Stephens reissued an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. UBS Group boosted their price objective 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 initiated coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Finally, Robert W. Baird boosted their price objective on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $343.54.

Insider Activity

In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were 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 of the company’s stock, valued at $27,447,862.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction 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 directly 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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the 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 transaction, the executive vice president now directly 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 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.