Mutual of America Capital Management LLC Buys 1,450 Shares of Trane Technologies plc (NYSE:TT)

Mutual of America Capital Management LLC increased its holdings in Trane Technologies plc (NYSE:TT) by 4.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,283 shares of the company’s stock after purchasing an additional 1,450 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Trane Technologies were worth $12,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Swedbank AB bought a new stake in Trane Technologies in the 1st quarter worth approximately $206,211,000. TD Asset Management Inc grew its position in shares of Trane Technologies by 719.8% during the 4th quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock valued at $183,143,000 after acquiring an additional 659,299 shares during the period. Putnam Investments LLC grew its position in shares of Trane Technologies by 27,824.4% during the 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock valued at $139,689,000 after acquiring an additional 570,679 shares during the period. Kodai Capital Management LP bought a new stake in shares of Trane Technologies during the 4th quarter valued at $77,615,000. Finally, Sei Investments Co. grew its position in shares of Trane Technologies by 379.2% during the 1st 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 during the period. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TT shares. UBS Group boosted their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Stephens restated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Barclays lifted their target price on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their target price on shares of Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada lifted their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average target price of $343.54.

Insider Buying and Selling

In other news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction that occurred 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 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 SEC, which is accessible through this hyperlink. In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies 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 sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies 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 sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Down 0.8 %

Shares of NYSE TT opened at $371.73 on Thursday. The firm’s 50-day moving average price is $343.21 and its 200-day moving average price is $324.38. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $84.14 billion, a price-to-earnings ratio of 39.71, a P/E/G 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 $379.52.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) 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 analysts’ expectations of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.68 EPS. On average, equities research analysts anticipate 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.