Elo Mutual Pension Insurance Co Sells 1,369 Shares of Trane Technologies plc (NYSE:TT)

Elo Mutual Pension Insurance Co lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 6.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,430 shares of the company’s stock after selling 1,369 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Trane Technologies were worth $6,391,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Empowered Funds LLC raised its position in Trane Technologies by 138.0% during the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock valued at $2,001,000 after purchasing an additional 3,866 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Trane Technologies by 3.0% during the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock valued at $135,796,000 after buying an additional 13,078 shares during the period. Sei Investments Co. raised its holdings in shares of Trane Technologies by 379.2% in the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after acquiring an additional 242,271 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Trane Technologies in the fourth quarter worth about $3,086,000. Finally, Capital World Investors lifted its stake in Trane Technologies by 0.6% in the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after acquiring an additional 11,930 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on TT shares. Stephens reissued an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. Royal Bank of Canada lifted 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. Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 target price for the company. Barclays lifted their price target on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company upped their price objective on Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $343.54.

Trane Technologies Price Performance

Shares of TT stock opened at $371.73 on Thursday. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $379.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. The firm has a market capitalization of $84.14 billion, a price-to-earnings ratio of 39.71, a PEG ratio of 2.45 and a beta of 1.01. The stock’s 50-day simple moving average is $343.21 and its 200-day simple moving average is $324.38.

Trane Technologies (NYSE:TT) last issued its quarterly 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. 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 quarter in the prior year, the business posted $2.68 EPS. Trane Technologies’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities analysts forecast that Trane Technologies plc will post 10.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO David S. Regnery sold 29,450 shares of the 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 of the company’s stock, valued at $42,708,902.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction 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 completion of 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 filing with the SEC, which is available at the SEC website. Also, 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 transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Trane Technologies 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.