Oppenheimer & Co. Inc. Raises Holdings in Trane Technologies plc (NYSE:TT)

Oppenheimer & Co. Inc. increased its holdings in Trane Technologies plc (NYSE:TT) by 3.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 9,079 shares of the company’s stock after acquiring an additional 282 shares during the period. Oppenheimer & Co. Inc.’s holdings in Trane Technologies were worth $2,986,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. GoalVest Advisory LLC grew its position in Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Trane Technologies in the first quarter valued at $27,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Trane Technologies in the 1st quarter valued at $30,000. Sachetta LLC acquired a new position in Trane Technologies during the 4th quarter worth about $27,000. Finally, Motco purchased a new position in Trane Technologies during the 4th quarter valued at about $27,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on TT. Wells Fargo & Company lifted their target price on Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Stephens reaffirmed an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. UBS Group lifted their target price on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Royal Bank of Canada lifted their target price on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird lifted their target price on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average price target of $343.54.

Trane Technologies Price Performance

TT stock opened at $364.23 on Monday. The business has a 50 day moving average price of $341.06 and a 200 day moving average price of $322.81. The stock has a market cap of $82.44 billion, a price-to-earnings ratio of 38.91, a PEG ratio of 2.45 and a beta of 1.01. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $366.21. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last posted its earnings results 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 firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations 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 was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.68 earnings per share. Equities research analysts anticipate that Trane Technologies plc will post 10.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The sale 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 business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. 0.38% of the stock is owned by company 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.