Canada Pension Plan Investment Board Has $52.48 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Canada Pension Plan Investment Board lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 13.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 159,547 shares of the company’s stock after purchasing an additional 18,933 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Trane Technologies were worth $52,480,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. PFG Private Wealth Management LLC increased its holdings in Trane Technologies by 4.7% in the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock valued at $232,000 after buying an additional 32 shares during the period. Center for Financial Planning Inc. boosted its position in shares of Trane Technologies by 1.7% during the 1st quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock worth $624,000 after acquiring an additional 34 shares in the last quarter. Bell Investment Advisors Inc increased its stake in Trane Technologies by 26.5% in the second quarter. Bell Investment Advisors Inc now owns 167 shares of the company’s stock valued at $55,000 after acquiring an additional 35 shares during the last quarter. Muirfield Wealth Advisors LLC raised its position in Trane Technologies by 4.1% during the second quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $309,000 after purchasing an additional 37 shares in the last quarter. Finally, Pure Financial Advisors LLC lifted its stake in Trane Technologies by 5.2% during the second quarter. Pure Financial Advisors LLC now owns 765 shares of the company’s stock worth $252,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $384.93 on Friday. The firm has a market cap of $87.13 billion, a PE ratio of 41.13, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $387.71. The firm’s fifty day moving average is $344.77 and its 200-day moving average is $325.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the previous year, the business earned $2.68 EPS. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. Sell-side analysts predict 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 shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The transaction 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 that occurred on 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 completion of the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred 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 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. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

TT has been the topic of several recent analyst reports. Barclays lifted 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. Morgan Stanley started coverage on Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Royal Bank of Canada raised their price target 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. Finally, UBS Group upped their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $343.54.

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.