Summit Trail Advisors LLC Has $1.31 Million Position in Trane Technologies plc (NYSE:TT)

Summit Trail Advisors LLC increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,979 shares of the company’s stock after acquiring an additional 69 shares during the quarter. Summit Trail Advisors LLC’s holdings in Trane Technologies were worth $1,309,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Empowered Funds LLC grew its holdings in Trane Technologies by 138.0% in the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock valued at $2,001,000 after buying an additional 3,866 shares in the last quarter. Nordea Investment Management AB grew its holdings in Trane Technologies by 3.0% in the 1st quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock valued at $135,796,000 after buying an additional 13,078 shares in the last quarter. Sei Investments Co. grew its holdings in Trane Technologies by 379.2% in the 1st quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after buying an additional 242,271 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Trane Technologies in the 4th quarter valued at $3,086,000. Finally, Capital World Investors grew its holdings in Trane Technologies by 0.6% in the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock valued at $530,870,000 after buying an additional 11,930 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on TT shares. Royal Bank of Canada increased 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. Morgan Stanley started coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 target price on the stock. Stephens reissued an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Barclays increased their target price on Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Robert W. Baird increased their target price 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 assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $343.54.

Trane Technologies Trading Up 0.9 %

Shares of Trane Technologies stock opened at $384.93 on Friday. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $387.71. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. The stock has a 50 day moving average price of $344.77 and a two-hundred day moving average price of $325.74. The stock has a market capitalization of $87.13 billion, a PE ratio of 41.13, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share 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 company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter last year, the company earned $2.68 earnings per share. The company’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 fiscal year.

Insider Activity

In related news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies 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 sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies 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 sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction 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 sale, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. The disclosure for this sale can be found here. Corporate 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.