Parallel Advisors LLC Buys 348 Shares of Trane Technologies plc (NYSE:TT)

Parallel Advisors LLC increased its position in shares of Trane Technologies plc (NYSE:TT) by 16.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,468 shares of the company’s stock after acquiring an additional 348 shares during the quarter. Parallel Advisors LLC’s holdings in Trane Technologies were worth $812,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Trane Technologies by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after purchasing an additional 174,251 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Trane Technologies by 0.5% during the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after buying an additional 80,536 shares during the period. Norges Bank bought a new position in Trane Technologies during the fourth quarter worth about $655,804,000. Capital World Investors lifted its holdings in 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. Finally, Franklin Resources Inc. grew its stake in Trane Technologies by 17.3% in the fourth quarter. Franklin Resources Inc. now owns 1,655,459 shares of the company’s stock valued at $403,766,000 after acquiring an additional 243,996 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price objective on Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Morgan Stanley initiated coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target for the company. UBS Group increased their price objective 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. Barclays upped their target price on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Stephens reissued an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average target price of $343.54.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $369.20 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $83.57 billion, a P/E ratio of 39.44, a P/E/G ratio of 2.45 and a beta of 1.01. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $370.22. The stock has a 50 day moving average of $341.78 and a 200-day moving average of $323.43.

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

Insider Transactions at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO David S. Regnery sold 29,450 shares of the company’s 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 directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares in the company, 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 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.