Federated Hermes Inc. Decreases Stake in Trane Technologies plc (NYSE:TT)

Federated Hermes Inc. decreased its holdings in Trane Technologies plc (NYSE:TT) by 11.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 967,716 shares of the company’s stock after selling 126,378 shares during the quarter. Trane Technologies comprises approximately 0.8% of Federated Hermes Inc.’s investment portfolio, making the stock its 23rd largest holding. Federated Hermes Inc.’s holdings in Trane Technologies were worth $318,311,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. PFG Private Wealth Management LLC lifted its position in shares of Trane Technologies by 4.7% during the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after purchasing an additional 32 shares during the last quarter. Center for Financial Planning Inc. grew its position in shares of Trane Technologies by 1.7% in the 1st quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock worth $624,000 after acquiring an additional 34 shares in the last quarter. Bell Investment Advisors Inc increased its holdings in shares of Trane Technologies by 26.5% in the 2nd quarter. Bell Investment Advisors Inc now owns 167 shares of the company’s stock valued at $55,000 after acquiring an additional 35 shares during the last quarter. Muirfield Wealth Advisors LLC raised its position in shares of Trane Technologies by 4.1% during the 2nd quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $309,000 after acquiring an additional 37 shares in the last quarter. Finally, Pure Financial Advisors LLC lifted its stake in Trane Technologies by 5.2% during the second quarter. Pure Financial Advisors LLC now owns 765 shares of the company’s stock worth $252,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other Trane Technologies 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 value of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Up 1.5 %

TT stock opened at $359.67 on Friday. The firm’s 50-day moving average is $340.41 and its two-hundred day moving average is $321.72. The company has a market capitalization of $81.17 billion, a price-to-earnings ratio of 38.43, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $363.15. 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 (NYSE:TT) last announced its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.08 by $0.22. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.68 earnings per share. On average, analysts forecast that Trane Technologies plc will post 10.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on TT shares. UBS Group increased their target price on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Stephens reissued an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Barclays upped their target price on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Robert W. Baird raised their price target on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company increased their target price on Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $337.29.

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.