Trane Technologies plc (NYSE:TT) Stake Boosted by Blue Trust Inc.

Blue Trust Inc. increased its stake in Trane Technologies plc (NYSE:TT) by 69.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,566 shares of the company’s stock after purchasing an additional 2,696 shares during the period. Blue Trust Inc.’s holdings in Trane Technologies were worth $2,552,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TT. Global Wealth Strategies & Associates acquired a new position in shares of Trane Technologies during the fourth quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in Trane Technologies during the 3rd quarter valued at $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies during the 3rd quarter worth $36,000. Sound Income Strategies LLC grew its stake in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Trane Technologies in the second quarter worth $39,000. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Royal Bank of Canada lifted their price target on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Mizuho lifted their target price on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird reduced their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, HSBC downgraded 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 report on Thursday, October 31st. One equities 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 company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $420.64.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. This trade 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. Company insiders own 0.38% of the company’s stock.

Trane Technologies Trading Down 8.4 %

Shares of Trane Technologies stock opened at $367.28 on Tuesday. 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 $250.77 and a 1 year high of $422.00. The company’s fifty day simple moving average is $394.35 and its 200-day simple moving average is $376.04. The company has a market cap of $82.65 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 2.16 and a beta of 1.06.

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