Daymark Wealth Partners LLC Raises Position in Trane Technologies plc (NYSE:TT)

Daymark Wealth Partners LLC raised its holdings in shares of Trane Technologies plc (NYSE:TT) by 16.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,704 shares of the company’s stock after acquiring an additional 380 shares during the period. Daymark Wealth Partners LLC’s holdings in Trane Technologies were worth $889,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TT. Empowered Funds LLC raised its position in shares of Trane Technologies by 138.0% during the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock valued at $2,001,000 after buying an additional 3,866 shares in the last quarter. Nordea Investment Management AB raised its position in Trane Technologies by 3.0% during the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock valued at $135,796,000 after purchasing an additional 13,078 shares in the last quarter. Sei Investments Co. lifted its stake in Trane Technologies by 379.2% during the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock worth $91,909,000 after purchasing an additional 242,271 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Trane Technologies in the 4th quarter worth about $3,086,000. Finally, Capital World Investors increased its position in shares of Trane Technologies by 0.6% during the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock valued at $530,870,000 after purchasing an additional 11,930 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Trading Down 0.7 %

TT opened at $383.95 on Friday. The stock has a market cap of $86.91 billion, a PE ratio of 41.02, a PEG ratio of 2.68 and a beta of 1.01. The business has a 50 day moving average of $349.69 and a 200-day moving average of $328.95. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $391.90. 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 announced its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The firm had revenue of $5.31 billion for 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%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.68 EPS. Equities research analysts predict that Trane Technologies plc will post 10.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO David S. Regnery sold 29,450 shares of the company’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 transaction, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’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 transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TT. Stephens reaffirmed an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Morgan Stanley began coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective on the stock. Robert W. Baird increased their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. UBS Group increased their target price on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Finally, Wells Fargo & Company increased their price objective on Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $343.54.

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.