Intech Investment Management LLC Acquires 1,139 Shares of Trane Technologies plc (NYSE:TT)

Intech Investment Management LLC increased its holdings in Trane Technologies plc (NYSE:TT) by 3.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,805 shares of the company’s stock after acquiring an additional 1,139 shares during the quarter. Intech Investment Management LLC’s holdings in Trane Technologies were worth $11,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of TT. Aveo Capital Partners LLC increased its stake in shares of Trane Technologies by 4.5% during the fourth quarter. Aveo Capital Partners LLC now owns 1,322 shares of the company’s stock valued at $322,000 after purchasing an additional 57 shares in the last quarter. 9258 Wealth Management LLC increased its position in Trane Technologies by 17.5% during the 4th quarter. 9258 Wealth Management LLC now owns 3,652 shares of the company’s stock valued at $891,000 after buying an additional 545 shares in the last quarter. D.A. Davidson & CO. raised its stake in Trane Technologies by 14.9% during the fourth quarter. D.A. Davidson & CO. now owns 6,377 shares of the company’s stock valued at $1,555,000 after buying an additional 827 shares during the last quarter. Trexquant Investment LP boosted its holdings in Trane Technologies by 287.4% in the fourth quarter. Trexquant Investment LP now owns 7,086 shares of the company’s stock worth $1,728,000 after acquiring an additional 5,257 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Trane Technologies by 7.7% in the fourth quarter. Assetmark Inc. now owns 19,402 shares of the company’s stock worth $4,732,000 after acquiring an additional 1,394 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TT. Wells Fargo & Company upped their price target on shares of Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Robert W. Baird raised their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. UBS Group upped their price objective on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Royal Bank of Canada lifted their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Finally, Barclays upped their price target on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and an average target price of $343.54.

Insiders Place Their Bets

In other news, EVP Raymond D. Pittard sold 1,805 shares of the 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 sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $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 Trane Technologies stock in a transaction that occurred 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 directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Trane Technologies Trading Up 0.9 %

Shares of Trane Technologies stock opened at $384.93 on Friday. Trane Technologies plc has a 1-year low of $184.02 and a 1-year high of $387.71. The company’s fifty day simple moving average is $344.77 and its 200-day simple moving average is $325.45. 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 capitalization of $87.13 billion, a PE ratio of 41.13, a P/E/G ratio of 2.45 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) 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 business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the previous year, the company posted $2.68 earnings per share. Trane Technologies’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities analysts anticipate that Trane Technologies plc will post 10.87 earnings per share for the current year.

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.