684 Shares in Trane Technologies plc (NYSE:TT) Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. acquired a new position in shares of Trane Technologies plc (NYSE:TT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 684 shares of the company’s stock, valued at approximately $225,000.

A number of other institutional investors have also added to or reduced their stakes in TT. Swedbank AB purchased a new stake in shares of Trane Technologies in the 1st quarter valued at about $206,211,000. TD Asset Management Inc raised its holdings in shares of Trane Technologies by 719.8% in the 4th quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock valued at $183,143,000 after acquiring an additional 659,299 shares in the last quarter. Putnam Investments LLC raised its holdings in shares of Trane Technologies by 27,824.4% in the 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock valued at $139,689,000 after acquiring an additional 570,679 shares in the last quarter. Kodai Capital Management LP purchased a new stake in shares of Trane Technologies in the 4th quarter valued at about $77,615,000. Finally, Sei Investments Co. raised its holdings in shares of 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 acquiring an additional 242,271 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock opened at $384.93 on Monday. The firm has a market cap of $87.13 billion, a P/E ratio of 41.13, a P/E/G ratio of 2.45 and a beta of 1.01. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $387.71. The business’s 50 day moving average price is $344.77 and its 200-day moving average price is $326.02. 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 (NYSE:TT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $2.68 EPS. On average, equities research analysts anticipate that Trane Technologies plc will post 10.87 earnings per share for the current year.

Insider Transactions at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, 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 filing with the SEC, which is available through this link. In related news, CEO David S. Regnery sold 29,450 shares of Trane Technologies 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 sale, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies 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 sale, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of a number of research reports. Stephens reissued an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Barclays raised their price objective on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Robert W. Baird raised their price objective on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Morgan Stanley initiated coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective on the stock. Finally, Royal Bank of Canada raised their price objective on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $343.54.

Trane Technologies Company 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.