CX Institutional Purchases 38 Shares of Trane Technologies plc (NYSE:TT)

CX Institutional raised its holdings in Trane Technologies plc (NYSE:TT) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,330 shares of the company’s stock after buying an additional 38 shares during the quarter. CX Institutional’s holdings in Trane Technologies were worth $491,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Public Sector Pension Investment Board lifted its holdings in shares of Trane Technologies by 65.8% during the second quarter. Public Sector Pension Investment Board now owns 8,572 shares of the company’s stock valued at $2,820,000 after acquiring an additional 3,401 shares during the period. Daymark Wealth Partners LLC increased its position in Trane Technologies by 16.4% in the 2nd quarter. Daymark Wealth Partners LLC now owns 2,704 shares of the company’s stock valued at $889,000 after acquiring an additional 380 shares in the last quarter. MBB Public Markets I LLC acquired a new position in shares of Trane Technologies during the second quarter worth approximately $5,468,000. Scientech Research LLC bought a new position in Trane Technologies in the 2nd quarter worth approximately $676,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Trane Technologies during the 2nd quarter worth $14,835,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on TT shares. JPMorgan Chase & Co. lowered their target price on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Mizuho upped their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird lowered their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. UBS Group initiated coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price objective on the stock. Finally, Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $420.64.

Insider Activity at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $400.88 on Friday. Trane Technologies plc has a 52 week low of $250.06 and a 52 week high of $422.00. The stock has a market capitalization of $90.21 billion, a PE ratio of 37.19, a price-to-earnings-growth ratio of 2.16 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The stock has a 50 day moving average price of $394.35 and a 200 day moving average price of $375.50.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.79 earnings per share. Analysts predict that Trane Technologies plc will post 11.16 earnings per share for the current fiscal year.

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.