Sound Income Strategies LLC Has $37,000 Position in Trane Technologies plc (NYSE:TT)

Sound Income Strategies LLC increased its holdings in Trane Technologies plc (NYSE:TT) by 1,314.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99 shares of the company’s stock after purchasing an additional 92 shares during the period. Sound Income Strategies LLC’s holdings in Trane Technologies were worth $37,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TT. Trust Point Inc. lifted its position in shares of Trane Technologies by 3.1% during the 3rd quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after buying an additional 27 shares during the period. Cobblestone Capital Advisors LLC NY lifted its holdings in shares of Trane Technologies by 1.8% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock valued at $579,000 after acquiring an additional 27 shares during the period. First Pacific Financial boosted its stake in shares of Trane Technologies by 1.1% in the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after purchasing an additional 28 shares in the last quarter. Wescott Financial Advisory Group LLC grew its holdings in shares of Trane Technologies by 1.7% in the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after purchasing an additional 28 shares during the last quarter. Finally, Greenleaf Trust increased its position in shares of Trane Technologies by 0.5% during the 3rd quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock worth $2,275,000 after purchasing an additional 29 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on TT shares. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a research note on Thursday, October 31st. Wells Fargo & Company dropped their price target on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Barclays boosted their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Northcoast Research initiated coverage on Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target for the company. Finally, UBS Group started coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $420.64.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $400.88 on Friday. The firm has a fifty day moving average of $394.35 and a two-hundred day moving average of $375.50. 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 market capitalization of $90.21 billion, a price-to-earnings ratio of 37.19, a PEG ratio of 2.16 and a beta of 1.06. Trane Technologies plc has a 52 week low of $250.06 and a 52 week high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the company posted $2.79 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. As a group, equities research analysts predict that Trane Technologies plc will post 11.16 EPS for the current year.

Insider Activity at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was 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 of the company’s stock, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.38% of the company’s stock.

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.