Wealthspire Advisors LLC Raises Holdings in Trane Technologies plc (NYSE:TT)

Wealthspire Advisors LLC lifted its position in Trane Technologies plc (NYSE:TT) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,002 shares of the company’s stock after purchasing an additional 39 shares during the quarter. Wealthspire Advisors LLC’s holdings in Trane Technologies were worth $987,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in TT. GoalVest Advisory LLC boosted its stake in shares of Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after buying an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Trane Technologies during the 1st quarter worth approximately $27,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Trane Technologies in the 1st quarter valued at approximately $30,000. Sachetta LLC purchased a new stake in shares of Trane Technologies during the fourth quarter worth approximately $27,000. Finally, Motco acquired a new stake in shares of Trane Technologies during the fourth quarter worth $27,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, 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 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 SEC, which can be accessed through this hyperlink. In related news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on TT. Morgan Stanley initiated coverage on shares of Trane Technologies in a research 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 company an “overweight” rating in a report on Thursday, August 1st. UBS Group raised their price target on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Royal Bank of Canada lifted their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company increased their price objective on Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $343.54.

Trane Technologies Price Performance

Trane Technologies stock opened at $364.23 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The firm’s 50-day simple moving average is $341.06 and its 200 day simple moving average is $322.81. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $366.21. The firm has a market capitalization of $82.44 billion, a PE ratio of 38.91, a P/E/G ratio of 2.45 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 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 for the quarter, compared to analyst estimates of $5.13 billion. During the same period in the prior year, the business earned $2.68 earnings per share. The company’s quarterly revenue was up 12.8% on a year-over-year basis. On average, equities research analysts predict that Trane Technologies plc will post 10.87 EPS 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.