Trane Technologies plc (NYSE:TT) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its holdings in Trane Technologies plc (NYSE:TT) by 5.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,406 shares of the company’s stock after selling 5,360 shares during the period. Gabelli Funds LLC’s holdings in Trane Technologies were worth $29,737,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TT. GoalVest Advisory LLC boosted its stake in Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in Trane Technologies in the first quarter valued at about $27,000. BOK Financial Private Wealth Inc. bought a new stake in Trane Technologies in the first quarter valued at about $30,000. Fortitude Family Office LLC raised its stake in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after buying an additional 43 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new position in Trane Technologies during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of several research analyst reports. UBS Group raised their price objective on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Stephens reaffirmed an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. Royal Bank of Canada increased 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 note on Thursday, August 1st. Barclays lifted their target price on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird increased their price target on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. 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.com, the stock has a consensus rating of “Hold” and an average price target of $343.54.

Trane Technologies Stock Performance

Shares of TT stock opened at $384.93 on Friday. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $387.71. 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 firm has a market capitalization of $87.13 billion, a price-to-earnings ratio of 41.13, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01. The business has a 50 day simple moving average of $344.77 and a 200 day simple moving average of $325.74.

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, topping 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 quarter in the prior year, the business posted $2.68 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts anticipate that Trane Technologies plc will post 10.87 EPS for the current year.

Insider Buying and Selling at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction that occurred 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 approximately $27,447,862.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other 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 transaction, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the company’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 completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

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.