Alpha DNA Investment Management LLC Acquires Shares of 2,228 Trane Technologies plc (NYSE:TT)

Alpha DNA Investment Management LLC bought a new position in shares of Trane Technologies plc (NYSE:TT) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,228 shares of the company’s stock, valued at approximately $733,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TT. GoalVest Advisory LLC lifted its position in Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Trane Technologies in the 1st quarter valued at approximately $27,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Trane Technologies during the 1st quarter worth approximately $30,000. Fortitude Family Office LLC boosted its position 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 worth $37,000 after acquiring an additional 43 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new position in Trane Technologies in the second quarter valued at approximately $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Raymond D. Pittard sold 1,805 shares of the business’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 owns 83,517 shares in the company, valued at $27,447,862.05. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Trane Technologies Trading Down 0.9 %

TT opened at $383.75 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $389.53. The company’s 50 day moving average price is $345.70 and its two-hundred day moving average price is $326.72. The firm has a market capitalization of $86.60 billion, a price-to-earnings ratio of 41.00, a PEG ratio of 2.68 and a beta of 1.01.

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

Analyst Upgrades and Downgrades

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