Mascoma Wealth Management LLC Cuts Stake in Trane Technologies plc (NYSE:TT)

Mascoma Wealth Management LLC reduced its position in Trane Technologies plc (NYSE:TTGet Rating) by 12.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 586 shares of the company’s stock after selling 86 shares during the quarter. Mascoma Wealth Management LLC’s holdings in Trane Technologies were worth $76,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Trane Technologies during the fourth quarter valued at $578,209,000. JPMorgan Chase & Co. grew its holdings in shares of Trane Technologies by 12.3% during the first quarter. JPMorgan Chase & Co. now owns 19,753,665 shares of the company’s stock valued at $3,016,386,000 after buying an additional 2,159,166 shares during the last quarter. Capital World Investors purchased a new stake in shares of Trane Technologies during the fourth quarter valued at $340,147,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Trane Technologies during the first quarter valued at $210,269,000. Finally, First Trust Advisors LP grew its holdings in shares of Trane Technologies by 2,606.5% during the first quarter. First Trust Advisors LP now owns 1,081,171 shares of the company’s stock valued at $165,095,000 after buying an additional 1,041,224 shares during the last quarter. 80.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TT. Cowen raised shares of Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 price objective on the stock in a report on Friday, July 8th. Citigroup boosted their target price on shares of Trane Technologies from $160.00 to $177.00 in a research report on Thursday, August 4th. Mizuho upped their price objective on shares of Trane Technologies from $140.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $123.00 to $133.00 and gave the stock an “underweight” rating in a research report on Thursday, August 4th. Finally, Jefferies Financial Group decreased their price objective on shares of Trane Technologies from $160.00 to $140.00 in a research report on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and an average price target of $171.50.

Trane Technologies Stock Down 2.8 %

TT stock opened at $147.65 on Friday. The stock has a market capitalization of $34.21 billion, a P/E ratio of 23.59, a P/E/G ratio of 1.86 and a beta of 1.01. The firm has a 50-day simple moving average of $153.36 and a 200-day simple moving average of $145.03. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 0.66. Trane Technologies plc has a 52 week low of $120.64 and a 52 week high of $204.23.

Trane Technologies (NYSE:TTGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.06. Trane Technologies had a net margin of 10.06% and a return on equity of 25.03%. The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the prior year, the company earned $1.92 EPS. Trane Technologies’s revenue was up 9.4% compared to the same quarter last year. Equities analysts forecast that Trane Technologies plc will post 7.1 earnings per share for the current fiscal year.

Trane Technologies Company Profile

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Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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