International Assets Investment Management LLC Sells 1,640,826 Shares of Trane Technologies plc (NYSE:TT)

International Assets Investment Management LLC lowered its holdings in shares of Trane Technologies plc (NYSE:TT) by 99.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,311 shares of the company’s stock after selling 1,640,826 shares during the quarter. International Assets Investment Management LLC’s holdings in Trane Technologies were worth $1,611,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies during the third quarter worth $27,000. Global Wealth Strategies & Associates bought a new stake in shares of Trane Technologies in the 4th quarter worth about $26,000. DT Investment Partners LLC purchased a new position in shares of Trane Technologies during the 3rd quarter worth about $36,000. Pittenger & Anderson Inc. bought a new position in Trane Technologies during the 3rd quarter valued at about $39,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Trane Technologies in the 3rd quarter worth about $44,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on TT. Robert W. Baird cut their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Northcoast Research began coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. UBS Group began coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price for the company. Citigroup raised their price target on shares of Trane Technologies from $457.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $414.57.

Trane Technologies Stock Performance

Shares of TT stock opened at $386.19 on Thursday. The firm has a market cap of $86.90 billion, a price-to-earnings ratio of 35.82, a PEG ratio of 2.38 and a beta of 1.06. Trane Technologies plc has a 52-week low of $240.51 and a 52-week high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $396.29 and its 200 day moving average is $370.89.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the business posted $2.79 EPS. On average, sell-side analysts anticipate that Trane Technologies plc will post 11.13 EPS 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.