Monte Financial Group LLC Lowers Stake in Trane Technologies plc (NYSE:TT)

Monte Financial Group LLC decreased its position in Trane Technologies plc (NYSE:TT) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,985 shares of the company’s stock after selling 72 shares during the quarter. Monte Financial Group LLC’s holdings in Trane Technologies were worth $1,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Wealth Strategies & Associates purchased a new stake in Trane Technologies in the fourth quarter worth about $26,000. MidAtlantic Capital Management Inc. bought a new position in Trane Technologies in the 3rd quarter valued at approximately $27,000. DT Investment Partners LLC purchased a new stake in shares of Trane Technologies during the 3rd quarter valued at about $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 acquiring an additional 92 shares during the period. Finally, Quarry LP purchased a new position in shares of Trane Technologies during the second quarter valued at approximately $39,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Trading Up 0.1 %

Shares of NYSE:TT opened at $400.88 on Friday. The firm has a market capitalization of $90.21 billion, a P/E ratio of 37.19, a P/E/G ratio of 2.16 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’s 50-day moving average is $394.35 and its 200 day moving average is $375.50. Trane Technologies plc has a 1 year low of $250.06 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.79 EPS. On average, research analysts predict that Trane Technologies plc will post 11.16 earnings per share for the current fiscal year.

Insider Activity at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 of the company’s stock, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their target price 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, January 15th. Citigroup lowered their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada lifted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Finally, Northcoast Research started coverage on Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price for the company. 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.com, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $420.64.

Trane Technologies 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.