Inspire Investing LLC Makes New $767,000 Investment in Trane Technologies plc (NYSE:TT)

Inspire Investing LLC bought a new stake in shares of Trane Technologies plc (NYSE:TT) in the 2nd quarter, HoldingsChannel reports. The fund bought 2,333 shares of the company’s stock, valued at approximately $767,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Aveo Capital Partners LLC raised its position in Trane Technologies by 4.5% in the fourth quarter. Aveo Capital Partners LLC now owns 1,322 shares of the company’s stock worth $322,000 after acquiring an additional 57 shares during the period. 9258 Wealth Management LLC raised its position in Trane Technologies by 17.5% in the fourth quarter. 9258 Wealth Management LLC now owns 3,652 shares of the company’s stock worth $891,000 after acquiring an additional 545 shares during the period. D.A. Davidson & CO. raised its position in Trane Technologies by 14.9% in the fourth quarter. D.A. Davidson & CO. now owns 6,377 shares of the company’s stock worth $1,555,000 after acquiring an additional 827 shares during the period. Trexquant Investment LP raised its position in Trane Technologies by 287.4% in the fourth quarter. Trexquant Investment LP now owns 7,086 shares of the company’s stock worth $1,728,000 after acquiring an additional 5,257 shares during the period. Finally, Assetmark Inc. raised its position in Trane Technologies by 7.7% in the fourth quarter. Assetmark Inc. now owns 19,402 shares of the company’s stock worth $4,732,000 after acquiring an additional 1,394 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trane Technologies

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

Trane Technologies Price Performance

Shares of NYSE:TT opened at $384.93 on Friday. The company has a 50 day moving average of $344.77 and a 200 day moving average of $325.45. The stock has a market cap of $87.13 billion, a P/E ratio of 41.13, a P/E/G ratio of 2.45 and a beta of 1.01. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $387.71. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.08 by $0.22. The company had revenue of $5.31 billion during 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 company earned $2.68 earnings per share. As a group, sell-side analysts forecast that Trane Technologies plc will post 10.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group lifted their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Morgan Stanley assumed coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective on the stock. Barclays lifted their price objective on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Royal Bank of Canada lifted their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird lifted their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.