Oppenheimer & Co. Inc. Boosts Stake in Trane Technologies plc (NYSE:TT)

Oppenheimer & Co. Inc. grew its stake in Trane Technologies plc (NYSE:TT) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,079 shares of the company’s stock after buying an additional 282 shares during the period. Oppenheimer & Co. Inc.’s holdings in Trane Technologies were worth $2,986,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PFG Private Wealth Management LLC raised its holdings in shares of Trane Technologies by 4.7% during the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after purchasing an additional 32 shares during the last quarter. Center for Financial Planning Inc. raised its holdings in shares of Trane Technologies by 1.7% during the first quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock worth $624,000 after purchasing an additional 34 shares during the last quarter. Bell Investment Advisors Inc raised its holdings in shares of Trane Technologies by 26.5% during the second quarter. Bell Investment Advisors Inc now owns 167 shares of the company’s stock worth $55,000 after purchasing an additional 35 shares during the last quarter. Muirfield Wealth Advisors LLC raised its holdings in shares of Trane Technologies by 4.1% during the second quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock worth $309,000 after purchasing an additional 37 shares during the last quarter. Finally, Pure Financial Advisors LLC raised its holdings in shares of Trane Technologies by 5.2% during the second quarter. Pure Financial Advisors LLC now owns 765 shares of the company’s stock worth $252,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. UBS Group raised their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Barclays upped their price objective on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Morgan Stanley assumed coverage on Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 target price on the stock. Finally, Robert W. Baird upped their price target on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and a consensus target price of $343.54.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred 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 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 SEC, which is available through the SEC website. In related news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred 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 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 SEC, which is available through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $364.23 on Monday. The business has a 50 day simple moving average of $341.06 and a two-hundred day simple moving average of $322.81. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $366.21. The stock has a market capitalization of $82.44 billion, a P/E ratio of 38.91, a PEG ratio of 2.45 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.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter in the prior year, the firm earned $2.68 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts predict that Trane Technologies plc will post 10.87 EPS for the current fiscal year.

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.