Palmer Knight Co Boosts Holdings in Trane Technologies plc (NYSE:TT)

Palmer Knight Co raised its holdings in Trane Technologies plc (NYSE:TT) by 0.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,848 shares of the company’s stock after acquiring an additional 103 shares during the period. Trane Technologies makes up 2.5% of Palmer Knight Co’s investment portfolio, making the stock its 26th largest position. Palmer Knight Co’s holdings in Trane Technologies were worth $5,484,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Tidal Investments LLC increased its stake in shares of Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after purchasing an additional 2,874 shares in the last quarter. Synovus Financial Corp boosted its position in shares of Trane Technologies by 16.8% in the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after acquiring an additional 1,271 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of Trane Technologies in the fourth quarter valued at approximately $468,000. HB Wealth Management LLC boosted its position in shares of Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after acquiring an additional 711 shares during the period. Finally, GDS Wealth Management boosted its position in shares of Trane Technologies by 4.3% in the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after acquiring an additional 2,124 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

TT has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Trane Technologies from $390.00 to $387.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Northcoast Research assumed coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective for the company. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a research report on Tuesday. Citigroup dropped their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Wells Fargo & Company dropped their target price on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $417.81.

Trane Technologies Stock Down 0.3 %

Shares of NYSE TT opened at $364.49 on Thursday. 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 plc has a 52 week low of $250.79 and a 52 week high of $422.00. The firm’s fifty day moving average is $391.62 and its 200 day moving average is $376.27. The company has a market cap of $82.02 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 2.16 and a beta of 1.06.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. On average, equities research analysts expect that Trane Technologies plc will post 11.16 earnings per share for the current year.

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.