Destiny Wealth Partners LLC Reduces Stock Position in Trane Technologies plc (NYSE:TT)

Destiny Wealth Partners LLC trimmed its position in Trane Technologies plc (NYSE:TT) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 542 shares of the company’s stock after selling 33 shares during the period. Destiny Wealth Partners LLC’s holdings in Trane Technologies were worth $200,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Tidal Investments LLC lifted its position in Trane Technologies by 22.2% during the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after buying an additional 2,874 shares during the period. Synovus Financial Corp lifted its holdings in shares of Trane Technologies by 16.8% during the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after acquiring an additional 1,271 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Trane Technologies in the fourth quarter worth approximately $468,000. HB Wealth Management LLC grew its holdings in Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after purchasing an additional 711 shares during the period. Finally, GDS Wealth Management raised its stake in Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after purchasing an additional 2,124 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Down 1.1 %

Shares of Trane Technologies stock opened at $362.47 on Friday. Trane Technologies plc has a 1-year low of $250.79 and a 1-year high of $422.00. The company has a market capitalization of $81.56 billion, a PE ratio of 33.62, a P/E/G ratio of 1.96 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The business has a 50-day moving average of $389.53 and a 200-day moving average of $376.35.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. As a group, equities analysts forecast that Trane Technologies plc will post 11.16 EPS for the current fiscal year.

Insider Activity at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TT has been the subject of a number of research analyst reports. Mizuho upped their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday. Royal Bank of Canada raised their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Citigroup decreased their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus target price of $415.25.

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.