Trane Technologies plc (NYSE:TT) Shares Sold by Safeguard Financial LLC

Safeguard Financial LLC reduced its holdings in Trane Technologies plc (NYSE:TT) by 20.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 641 shares of the company’s stock after selling 165 shares during the quarter. Safeguard Financial LLC’s holdings in Trane Technologies were worth $237,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in shares of Trane Technologies by 35,914.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after acquiring an additional 1,640,569 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after purchasing an additional 671,691 shares during the period. 1832 Asset Management L.P. lifted its position in Trane Technologies by 7,363.1% in the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock worth $139,067,000 after purchasing an additional 417,120 shares during the period. FMR LLC boosted its stake in Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after purchasing an additional 397,537 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after purchasing an additional 293,916 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of several research analyst reports. Wells Fargo & Company cut their price objective on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Citigroup cut their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday. Robert W. Baird lowered their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Barclays increased their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $414.43.

Insiders Place Their Bets

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. This represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $382.60 on Wednesday. The stock’s fifty day simple moving average is $396.47 and its 200-day simple moving average is $372.50. The company has a market capitalization of $86.09 billion, a price-to-earnings ratio of 35.49, a P/E/G ratio of 2.38 and a beta of 1.06. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 1-year low of $242.81 and a 1-year high of $422.00.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.79 EPS. On average, sell-side analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current fiscal 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.