Patron Partners LLC Has $486,000 Position in Trane Technologies plc (NYSE:TT)

Patron Partners LLC raised its position in shares of Trane Technologies plc (NYSE:TT) by 27.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,478 shares of the company’s stock after acquiring an additional 316 shares during the period. Patron Partners LLC’s holdings in Trane Technologies were worth $486,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PFG Private Wealth Management LLC increased its holdings in shares of Trane Technologies by 4.7% in the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock valued at $232,000 after purchasing an additional 32 shares in the last quarter. Center for Financial Planning Inc. lifted its stake in Trane Technologies by 1.7% in the first quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock valued at $624,000 after buying an additional 34 shares during the period. Muirfield Wealth Advisors LLC grew its position in shares of Trane Technologies by 4.1% during the 2nd quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock worth $309,000 after buying an additional 37 shares during the period. Pure Financial Advisors LLC grew its holdings in Trane Technologies by 5.2% during the second quarter. Pure Financial Advisors LLC now owns 765 shares of the company’s stock valued at $252,000 after purchasing an additional 38 shares during the period. Finally, Simmons Bank raised its holdings in Trane Technologies by 5.6% in the second quarter. Simmons Bank now owns 718 shares of the company’s stock worth $236,000 after purchasing an additional 38 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the subject of several research analyst reports. Barclays upped their price target on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. UBS Group raised their target price on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a research report on Friday. Royal Bank of Canada upped their target price on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Finally, Stephens reiterated an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $337.29.

Trane Technologies Price Performance

Shares of NYSE:TT remained flat at $342.07 during trading on Friday. 1,239,282 shares of the stock traded hands, compared to its average volume of 1,116,635. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $363.15. The company has a 50 day simple moving average of $338.47 and a 200-day simple moving average of $319.71. The firm has a market cap of $77.43 billion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 2.51 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter last year, the firm earned $2.68 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, research analysts anticipate that Trane Technologies plc will post 10.82 earnings per share 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.