Trane Technologies plc (NYSE:TT) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 657,132 shares of the company’s stock after selling 34,724 shares during the period. Trane Technologies makes up approximately 0.8% of Los Angeles Capital Management LLC’s holdings, making the stock its 22nd biggest position. Los Angeles Capital Management LLC owned about 0.29% of Trane Technologies worth $216,150,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Motco acquired a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $27,000. Sachetta LLC acquired a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $27,000. GoalVest Advisory LLC raised its holdings in shares of Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after acquiring an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Trane Technologies during the first quarter valued at approximately $27,000. Finally, BOK Financial Private Wealth Inc. acquired a new position in Trane Technologies in the 1st quarter valued at approximately $30,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TT. UBS Group upped their price objective 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. Morgan Stanley began coverage on shares of Trane Technologies in a research note on Friday. They issued an “overweight” rating and a $425.00 price objective on the stock. Barclays upped their price objective on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a research report on Friday. Finally, Royal Bank of Canada boosted their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $337.29.

Trane Technologies Stock Performance

Shares of Trane Technologies stock remained flat at $342.07 during mid-day trading on Friday. 1,239,282 shares of the company were exchanged, compared to its average volume of 1,116,635. The company has a market capitalization of $77.43 billion, a P/E 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. The company has a fifty day simple moving average of $338.47 and a 200-day simple moving average of $319.71. Trane Technologies plc has a 1-year low of $184.02 and a 1-year high of $363.15.

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

Insider Transactions at Trane Technologies

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

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.