Eastern Bank Sells 42 Shares of Trane Technologies plc (NYSE:TT)

Eastern Bank trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 6.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 602 shares of the company’s stock after selling 42 shares during the quarter. Eastern Bank’s holdings in Trane Technologies were worth $222,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TT. Parallel Advisors LLC raised its stake in shares of Trane Technologies by 16.4% during the second quarter. Parallel Advisors LLC now owns 2,468 shares of the company’s stock worth $812,000 after buying an additional 348 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Trane Technologies in the second quarter valued at approximately $225,000. Envestnet Asset Management Inc. increased its stake in Trane Technologies by 8.1% in the second quarter. Envestnet Asset Management Inc. now owns 312,629 shares of the company’s stock valued at $102,833,000 after purchasing an additional 23,376 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in Trane Technologies by 3.2% in the second quarter. J.W. Cole Advisors Inc. now owns 1,734 shares of the company’s stock valued at $570,000 after purchasing an additional 54 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Trane Technologies in the second quarter valued at approximately $593,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TT has been the subject of several recent analyst reports. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research note on Thursday, October 31st. Royal Bank of Canada upped their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Citigroup lowered their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday. UBS Group began coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price for the company. Finally, Wells Fargo & Company lowered their price objective on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $414.43.

Trane Technologies Stock Performance

Shares of TT opened at $382.60 on Wednesday. Trane Technologies plc has a 12 month low of $242.81 and a 12 month high of $422.00. The firm has a fifty day simple moving average of $396.47 and a 200 day simple moving average of $372.50. The stock has a market capitalization of $86.09 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 2.38 and a beta of 1.06. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the prior year, the company posted $2.79 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. Research analysts forecast that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Company 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.