Itau Unibanco Holding S.A. Acquires New Holdings in Trane Technologies plc (NYSE:TT)

Itau Unibanco Holding S.A. bought a new position in shares of Trane Technologies plc (NYSE:TT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 549 shares of the company’s stock, valued at approximately $181,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Fidelis Capital Partners LLC boosted its stake in shares of Trane Technologies by 5.3% during the 2nd quarter. Fidelis Capital Partners LLC now owns 980 shares of the company’s stock worth $317,000 after purchasing an additional 49 shares during the last quarter. 1832 Asset Management L.P. lifted its stake 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 buying an additional 417,120 shares during the period. Greenline Partners LLC purchased a new stake in Trane Technologies in the 2nd quarter worth approximately $1,620,000. Frank Rimerman Advisors LLC raised its holdings 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 valued at $1,539,000 after acquiring an additional 4,668 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Trane Technologies by 5.1% during the 2nd quarter. ProShare Advisors LLC now owns 36,730 shares of the company’s stock worth $12,082,000 after purchasing an additional 1,790 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

TT has been the subject of several analyst reports. Wells Fargo & Company upped 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. UBS Group increased their price objective 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. Barclays raised their target price on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Robert W. Baird upped 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 upped their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $343.54.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Trane Technologies 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 value of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the 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 directly owns 132,946 shares in the company, valued at $42,708,902.50. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Trane Technologies stock opened at $384.93 on Monday. The firm 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. Trane Technologies plc has a one year low of $184.02 and a one year high of $387.71. The stock’s 50 day moving average price is $344.77 and its 200 day moving average price is $326.02. 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 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the prior year, the firm earned $2.68 earnings per share. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts expect that Trane Technologies plc will post 10.87 EPS for the current fiscal year.

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.