Stock Yards Bank & Trust Co. Lowers Stock Position in Trane Technologies plc (NYSE:TT)

Stock Yards Bank & Trust Co. trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 16.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 983 shares of the company’s stock after selling 189 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Trane Technologies were worth $323,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Sachetta LLC purchased a new stake in shares of Trane Technologies during the fourth quarter valued at about $27,000. GoalVest Advisory LLC boosted its stake in Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in Trane Technologies in the first quarter worth $27,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Trane Technologies during the first quarter worth $30,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TT. Wells Fargo & Company upped their target price on Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Stephens restated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Robert W. Baird lifted their target price 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. Barclays upped their price target on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, UBS Group lifted their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $343.54.

Trane Technologies Price Performance

Shares of TT opened at $371.73 on Thursday. The company has a market capitalization of $84.14 billion, a P/E ratio of 39.71, a P/E/G ratio of 2.45 and a beta of 1.01. The business’s 50-day moving average is $343.21 and its two-hundred day moving average is $324.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $379.52.

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

Insider Activity at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction 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 transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The disclosure for this sale can be found here. Company 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.