Trane Technologies plc (NYSE:TT) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its stake in Trane Technologies plc (NYSE:TT) by 5.6% during the second quarter, HoldingsChannel.com reports. The fund owned 90,406 shares of the company’s stock after selling 5,360 shares during the period. Gabelli Funds LLC’s holdings in Trane Technologies were worth $29,737,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TT. Itau Unibanco Holding S.A. purchased a new position in Trane Technologies in the 2nd quarter worth about $181,000. Fidelis Capital Partners LLC increased its position in shares of Trane Technologies by 5.3% in the second quarter. Fidelis Capital Partners LLC now owns 980 shares of the company’s stock worth $317,000 after acquiring an additional 49 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Trane Technologies by 7,363.1% during the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after acquiring an additional 417,120 shares during the period. Greenline Partners LLC purchased a new stake in shares of Trane Technologies in the 2nd quarter valued at approximately $1,620,000. Finally, Frank Rimerman Advisors LLC boosted its stake in Trane Technologies by 42,436.4% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 4,679 shares of the company’s stock worth $1,539,000 after purchasing an additional 4,668 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the firm’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 value of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, 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 this hyperlink. 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 value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David S. Regnery sold 29,450 shares of the business’s 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 transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TT shares. Barclays boosted 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. Stephens reissued an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. Wells Fargo & Company lifted their target price on Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Robert W. Baird increased their price target 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. Finally, Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $343.54.

Trane Technologies Price Performance

NYSE TT opened at $384.93 on Friday. The company has a 50 day moving average price of $344.77 and a two-hundred day moving average price of $325.74. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $387.71. The stock has a market capitalization 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. 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 released its quarterly earnings data 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 business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. Trane Technologies’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.68 EPS. As a group, equities analysts predict that Trane Technologies plc will post 10.87 earnings per share 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.