Trane Technologies plc (NYSE:TT) Stake Raised by Gradient Investments LLC

Gradient Investments LLC boosted its holdings in Trane Technologies plc (NYSE:TT) by 78.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,609 shares of the company’s stock after acquiring an additional 1,586 shares during the quarter. Gradient Investments LLC’s holdings in Trane Technologies were worth $1,333,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates bought a new stake in shares of Trane Technologies during the fourth quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies during the 3rd quarter valued at about $27,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies during the 3rd quarter worth about $36,000. Sound Income Strategies LLC lifted its stake in shares of Trane Technologies by 1,314.3% in the 4th 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 bought a new position in shares of Trane Technologies in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

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 PEG ratio of 2.16 and a beta of 1.06. The stock has a fifty day moving average of $394.35 and a 200-day moving average of $375.50. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 12-month low of $250.06 and a 12-month high of $422.00.

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

Insider Activity at Trane Technologies

In related 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 transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Robert W. Baird cut their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Barclays raised their target price on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. UBS Group initiated coverage on shares of Trane Technologies in a research report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target on the stock. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Finally, HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $420.64.

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.