Amalgamated Bank Trims Position in Trane Technologies plc (NYSE:TT)

Amalgamated Bank trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,777 shares of the company’s stock after selling 899 shares during the period. Amalgamated Bank’s holdings in Trane Technologies were worth $15,386,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Aveo Capital Partners LLC lifted its position in shares of Trane Technologies by 4.5% in the fourth quarter. Aveo Capital Partners LLC now owns 1,322 shares of the company’s stock valued at $322,000 after acquiring an additional 57 shares in the last quarter. 9258 Wealth Management LLC raised its stake in Trane Technologies by 17.5% during the 4th quarter. 9258 Wealth Management LLC now owns 3,652 shares of the company’s stock valued at $891,000 after purchasing an additional 545 shares during the period. Brown Advisory Inc. lifted its holdings in Trane Technologies by 2.5% in the 4th quarter. Brown Advisory Inc. now owns 37,231 shares of the company’s stock worth $9,081,000 after purchasing an additional 891 shares in the last quarter. Sachetta LLC bought a new position in Trane Technologies in the 4th quarter worth approximately $27,000. Finally, D.A. Davidson & CO. grew its holdings in Trane Technologies by 14.9% during the 4th quarter. D.A. Davidson & CO. now owns 6,377 shares of the company’s stock valued at $1,555,000 after buying an additional 827 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.8 %

Shares of NYSE TT opened at $371.73 on Thursday. Trane Technologies plc has a 1-year low of $184.02 and a 1-year high of $379.52. 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 business’s 50 day moving average is $343.21 and its two-hundred day moving average is $324.38. The stock has a market capitalization of $84.14 billion, a P/E ratio of 39.71, a PEG ratio of 2.45 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released 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. The firm had revenue of $5.31 billion for 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 company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.68 EPS. As a group, research analysts expect that Trane Technologies plc will post 10.87 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on TT. UBS Group boosted their target price on shares of Trane Technologies from $330.00 to $375.00 and gave the stock 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. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Stephens reaffirmed an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Finally, Barclays increased their price target on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $343.54.

Insider Buying and Selling at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the firm’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 completion of the sale, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 132,946 shares in the company, valued at approximately $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 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 in the company, 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 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.