Trane Technologies plc (NYSE:TT) Shares Acquired by XTX Topco Ltd

XTX Topco Ltd lifted its stake in Trane Technologies plc (NYSE:TT) by 148.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,489 shares of the company’s stock after purchasing an additional 5,068 shares during the period. XTX Topco Ltd’s holdings in Trane Technologies were worth $2,792,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TT. Sachetta LLC purchased a new position in Trane Technologies in the fourth quarter valued at about $27,000. GoalVest Advisory LLC grew its holdings in shares of Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new position in Trane Technologies in the 1st quarter valued at approximately $27,000. BOK Financial Private Wealth Inc. acquired a new position in Trane Technologies during the first quarter worth $30,000. Finally, Fortitude Family Office LLC boosted its position in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.8 %

Shares of Trane Technologies stock opened at $371.73 on Thursday. The business’s fifty day moving average is $343.21 and its two-hundred day moving average is $324.38. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $379.52. The firm has a market cap of $84.14 billion, a PE ratio of 39.71, a P/E/G ratio of 2.45 and a beta of 1.01. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 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 company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the prior year, the company posted $2.68 EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Analysts anticipate that Trane Technologies plc will post 10.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was 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 owns 83,517 shares in the company, valued at approximately $27,447,862.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies 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 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 insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their price target on Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Barclays raised their target price on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Robert W. Baird lifted their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Morgan Stanley assumed coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. Finally, Royal Bank of Canada lifted their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. One 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $343.54.

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.