Ritholtz Wealth Management Has $359,000 Position in Trane Technologies plc (NYSE:TT)

Ritholtz Wealth Management raised its holdings in shares of Trane Technologies plc (NYSE:TT) by 12.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,090 shares of the company’s stock after acquiring an additional 121 shares during the period. Ritholtz Wealth Management’s holdings in Trane Technologies were worth $359,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC increased its stake in Trane Technologies by 138.0% in the first quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock valued at $2,001,000 after purchasing an additional 3,866 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Trane Technologies by 3.0% during the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock worth $135,796,000 after purchasing an additional 13,078 shares during the period. Sei Investments Co. lifted its stake in Trane Technologies by 379.2% in the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after buying an additional 242,271 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Trane Technologies in the fourth quarter valued at approximately $3,086,000. Finally, Capital World Investors increased its position in shares of Trane Technologies by 0.6% during the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after acquiring an additional 11,930 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Price Performance

Shares of TT opened at $342.91 on Friday. The firm has a market capitalization of $77.62 billion, a PE ratio of 36.64, a PEG ratio of 2.51 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. The company’s 50-day moving average is $338.21 and its 200-day moving average is $319.22. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $363.15.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the business posted $2.68 earnings per share. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities analysts forecast that Trane Technologies plc will post 10.82 EPS for the current year.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction on Tuesday, August 6th. The stock was 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 of the company’s stock, valued at $42,708,902.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of 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 filing with the SEC, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TT shares. Wells Fargo & Company upped their target price on shares of Trane Technologies from $310.00 to $315.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Robert W. Baird raised their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Stephens reissued an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Barclays raised their target price on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, UBS Group boosted their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. One equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $323.29.

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.