Trane Technologies plc (NYSE:TT) Shares Purchased by Advisory Alpha LLC

Advisory Alpha LLC raised its holdings in Trane Technologies plc (NYSE:TT) by 11.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 744 shares of the company’s stock after buying an additional 74 shares during the quarter. Advisory Alpha LLC’s holdings in Trane Technologies were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TT. Truist Financial Corp lifted its stake in shares of Trane Technologies by 3.0% during the second quarter. Truist Financial Corp now owns 354,263 shares of the company’s stock worth $116,528,000 after buying an additional 10,413 shares during the period. Hershey Financial Advisers LLC purchased a new position in Trane Technologies in the 2nd quarter worth $1,735,000. EP Wealth Advisors LLC grew its stake in Trane Technologies by 2.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,493 shares of the company’s stock valued at $491,000 after purchasing an additional 41 shares during the last quarter. Kimelman & Baird LLC acquired a new position in shares of Trane Technologies in the second quarter valued at about $844,000. Finally, Quarry LP purchased a new position in shares of Trane Technologies in the second quarter worth about $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

NYSE TT opened at $387.85 on Thursday. 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 plc has a twelve month low of $184.02 and a twelve month high of $391.94. The stock has a 50-day moving average of $352.65 and a 200 day moving average of $331.29. The stock has a market capitalization of $87.79 billion, a price-to-earnings ratio of 41.44, a PEG ratio of 2.68 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced 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. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the prior year, the company posted $2.68 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. Sell-side analysts anticipate that Trane Technologies plc will post 10.87 EPS for the current fiscal year.

Insider Activity

In related news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

TT has been the topic of a number of recent research reports. Morgan Stanley started coverage on Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. Royal Bank of Canada increased their price objective 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. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Barclays increased their price target on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Robert W. Baird boosted their price objective on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $345.92.

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.