Montecito Bank & Trust Boosts Stake in Trane Technologies plc (NYSE:TT)

Montecito Bank & Trust raised its position in Trane Technologies plc (NYSE:TT) by 7.4% during the fourth quarter, Holdings Channel reports. The firm owned 8,663 shares of the company’s stock after buying an additional 595 shares during the quarter. Montecito Bank & Trust’s holdings in Trane Technologies were worth $3,200,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Global Wealth Strategies & Associates acquired a new stake in Trane Technologies during the 4th quarter worth approximately $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Trane Technologies in the third quarter valued at $27,000. DT Investment Partners LLC acquired a new stake in shares of Trane Technologies in the third quarter valued at $36,000. Quarry LP purchased a new position in Trane Technologies in the second quarter valued at $39,000. Finally, Pittenger & Anderson Inc. acquired a new position in Trane Technologies during the 3rd quarter worth $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 0.2 %

Shares of Trane Technologies stock opened at $400.46 on Friday. The firm has a market cap of $90.11 billion, a PE ratio of 37.15, a P/E/G ratio of 2.16 and a beta of 1.06. The business’s fifty day moving average is $394.68 and its two-hundred day moving average is $374.85. Trane Technologies plc has a fifty-two week low of $250.06 and a fifty-two week high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.79 EPS. Analysts anticipate that Trane Technologies plc will post 11.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on TT. Citigroup dropped their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a report on Thursday, October 31st. Northcoast Research initiated coverage on Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. Wells Fargo & Company lowered their target price on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average price target of $420.64.

Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

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.