Stablepoint Partners LLC Has $2.24 Million Stock Position in Trane Technologies plc (NYSE:TT)

Stablepoint Partners LLC trimmed its holdings in Trane Technologies plc (NYSE:TT) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,060 shares of the company’s stock after selling 93 shares during the quarter. Stablepoint Partners LLC’s holdings in Trane Technologies were worth $2,238,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of TT. International Assets Investment Management LLC raised its position in shares of Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after buying an additional 1,640,569 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after acquiring an additional 671,691 shares during the period. FMR LLC raised its holdings in Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after acquiring an additional 397,537 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after acquiring an additional 293,916 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Trane Technologies by 76.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company’s stock worth $162,175,000 after purchasing an additional 181,335 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.1 %

Shares of NYSE:TT opened at $400.88 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The firm has a market cap of $90.21 billion, a P/E ratio of 37.19, a P/E/G ratio of 2.16 and a beta of 1.06. Trane Technologies plc has a 12 month low of $250.06 and a 12 month high of $422.00. The company’s 50-day moving average price is $394.35 and its two-hundred day moving average price is $375.79.

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

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were 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 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TT has been the subject of a number of recent research reports. Citigroup cut their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group raised their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. Mizuho raised their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, UBS Group assumed coverage on Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $420.64.

Trane Technologies 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.