SPC Financial Inc. Increases Stake in Trane Technologies plc (NYSE:TT)

SPC Financial Inc. grew its stake in shares of Trane Technologies plc (NYSE:TT) by 75.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,223 shares of the company’s stock after purchasing an additional 526 shares during the quarter. SPC Financial Inc.’s holdings in Trane Technologies were worth $402,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GoalVest Advisory LLC boosted its position in Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Trane Technologies in the first quarter worth about $27,000. BOK Financial Private Wealth Inc. purchased a new position in Trane Technologies during the 1st quarter valued at about $30,000. Fortitude Family Office LLC raised its position in Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in Trane Technologies in the 2nd quarter worth approximately $39,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TT shares. Robert W. Baird boosted their target price on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Morgan Stanley started coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Barclays lifted their target price on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Wells Fargo & Company increased their price target on shares of Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Finally, Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $343.54.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was 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 in the company, valued at $42,708,902.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Trane Technologies Stock Down 0.5 %

Shares of NYSE:TT opened at $386.63 on Wednesday. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $391.94. The stock has a market capitalization of $87.51 billion, a price-to-earnings ratio of 41.31, a PEG ratio of 2.68 and a beta of 1.01. The stock has a fifty day simple moving average of $351.56 and a two-hundred day simple moving average of $330.90. 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 announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The company 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%. Trane Technologies’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.68 EPS. On average, research analysts anticipate that Trane Technologies plc will post 10.87 earnings per share for the current fiscal year.

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.