Burney Co. Increases Stock Position in Trane Technologies plc (NYSE:TT)

Burney Co. lifted its position in Trane Technologies plc (NYSE:TT) by 116.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 40,441 shares of the company’s stock after buying an additional 21,717 shares during the quarter. Burney Co.’s holdings in Trane Technologies were worth $14,937,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TT. FMR LLC grew its holdings in shares of Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after purchasing an additional 397,537 shares in the last quarter. State Street Corp raised its stake in shares of Trane Technologies by 0.8% in the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock valued at $3,797,565,000 after acquiring an additional 77,830 shares in the last quarter. Geode Capital Management LLC increased its holdings in Trane Technologies by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock worth $1,797,700,000 after purchasing an additional 65,991 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of 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 worth $991,460,000 after buying an additional 671,691 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Trane Technologies by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock valued at $832,691,000 after acquiring an additional 20,151 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Up 1.7 %

Shares of NYSE:TT opened at $389.04 on Wednesday. The stock has a 50-day simple moving average of $396.47 and a 200-day simple moving average of $372.50. The stock has a market capitalization of $87.54 billion, a P/E ratio of 36.09, a PEG ratio of 2.38 and a beta of 1.06. Trane Technologies plc has a 1 year low of $242.81 and a 1 year high of $422.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.79 EPS. Equities analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Barclays increased their target price on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Mizuho increased their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. The Goldman Sachs Group increased their target price 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Trane Technologies from $390.00 to $387.00 and set a “neutral” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $420.64.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is currently owned by insiders.

Trane Technologies Company 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.