Appleton Partners Inc. MA Sells 50 Shares of Trane Technologies plc (NYSE:TT)

Appleton Partners Inc. MA lowered its position in shares of Trane Technologies plc (NYSE:TT) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,601 shares of the company’s stock after selling 50 shares during the quarter. Appleton Partners Inc. MA’s holdings in Trane Technologies were worth $622,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TT. Swedbank AB acquired a new position in Trane Technologies in the first quarter worth $206,211,000. Putnam Investments LLC boosted its holdings in Trane Technologies by 27,824.4% in the fourth quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock valued at $139,689,000 after acquiring an additional 570,679 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of Trane Technologies by 7,363.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock worth $139,067,000 after buying an additional 417,120 shares during the period. TD Asset Management Inc grew its holdings in Trane Technologies by 41.2% during the 1st quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock worth $318,402,000 after acquiring an additional 309,738 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in Trane Technologies by 162.7% in the second quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after purchasing an additional 277,274 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the subject of several recent analyst reports. Morgan Stanley began coverage on shares of Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. Royal Bank of Canada boosted their target price on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Barclays raised their target price on shares of Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday. Robert W. Baird boosted 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, Wells Fargo & Company raised their price objective on Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $345.92.

Insiders Place Their Bets

In other news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction dated 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 of the company’s stock, valued at $27,447,862.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, the executive vice president now directly 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.

Trane Technologies Trading Down 0.2 %

Trane Technologies stock opened at $386.93 on Friday. The stock has a 50-day simple moving average of $353.95 and a 200 day simple moving average of $331.68. The stock has a market capitalization of $87.58 billion, a P/E ratio of 41.34, a PEG ratio of 2.68 and a beta of 1.01. 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 plc has a 52 week low of $184.02 and a 52 week high of $391.94.

Trane Technologies (NYSE:TT) last issued 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. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.68 EPS. Analysts expect that Trane Technologies plc will post 10.87 earnings per share for the current 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.