Sienna Gestion Makes New $6.98 Million Investment in Trane Technologies plc (NYSE:TT)

Sienna Gestion acquired a new stake in Trane Technologies plc (NYSE:TT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,221 shares of the company’s stock, valued at approximately $6,977,000.

Other institutional investors have also recently modified their holdings of the company. GoalVest Advisory LLC raised its position in Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in Trane Technologies during the first quarter valued at $27,000. BOK Financial Private Wealth Inc. purchased a new stake in Trane Technologies in the first quarter valued at $30,000. Sachetta LLC acquired a new stake in Trane Technologies during the 4th quarter worth about $27,000. Finally, Fortitude Family Office LLC raised its stake in shares of Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after buying an additional 43 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TT has been the topic of several analyst reports. Stephens reaffirmed an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Robert W. Baird lifted their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. UBS Group increased their price target 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 initiated coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Finally, Barclays increased their target price on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $343.54.

Trane Technologies Stock Performance

NYSE TT opened at $371.73 on Thursday. 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 stock’s 50 day simple moving average is $343.21 and its 200-day simple moving average is $324.38. The company has a market cap of $84.14 billion, a PE ratio of 39.71, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01. Trane Technologies plc has a 1-year low of $184.02 and a 1-year high of $379.52.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter last year, the firm posted $2.68 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities research analysts anticipate that Trane Technologies plc will post 10.87 EPS for the current fiscal year.

Insider Activity at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction that occurred 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 approximately $27,447,862.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated 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 in the company, valued at $27,447,862.05. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

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.