XTX Topco Ltd Boosts Holdings in Trane Technologies plc (NYSE:TT)

XTX Topco Ltd lifted its holdings in Trane Technologies plc (NYSE:TT) by 148.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,489 shares of the company’s stock after purchasing an additional 5,068 shares during the period. XTX Topco Ltd’s holdings in Trane Technologies were worth $2,792,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC boosted its stake in shares of Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in Trane Technologies during the 1st quarter worth approximately $27,000. BOK Financial Private Wealth Inc. acquired a new position in Trane Technologies during the 1st quarter worth approximately $30,000. Sachetta LLC purchased a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $27,000. Finally, Fortitude Family Office LLC raised its holdings in shares of Trane Technologies by 63.2% in 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 in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Down 0.8 %

Shares of NYSE:TT opened at $371.73 on Thursday. Trane Technologies plc has a 1-year low of $184.02 and a 1-year high of $379.52. 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 stock has a market cap 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 firm has a fifty day moving average price of $343.21 and a 200 day moving average price of $324.38.

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 the consensus estimate of $3.08 by $0.22. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.68 earnings per share. Sell-side analysts predict that Trane Technologies plc will post 10.87 EPS for the current year.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $42,708,902.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the business’s 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 transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $593,213.25. Following the completion of the sale, the executive vice president now 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. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on TT shares. Robert W. Baird increased their target price on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. UBS Group increased their price objective on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Stephens restated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Morgan Stanley began coverage on shares of Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. Finally, Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $343.54.

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.