Marietta Investment Partners LLC Grows Stake in Trane Technologies plc (NYSE:TT)

Marietta Investment Partners LLC increased its stake in shares of Trane Technologies plc (NYSE:TT) by 8.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,396 shares of the company’s stock after buying an additional 1,627 shares during the quarter. Trane Technologies comprises approximately 1.5% of Marietta Investment Partners LLC’s investment portfolio, making the stock its 22nd biggest holding. Marietta Investment Partners LLC’s holdings in Trane Technologies were worth $6,709,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TT. GoalVest Advisory LLC grew its holdings in shares of Trane Technologies by 157.1% during the first 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 last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Trane Technologies during the first quarter valued at $27,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Trane Technologies during the first quarter valued at $30,000. Fortitude Family Office LLC grew its holdings in shares of 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 during the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Trane Technologies during the second quarter valued at $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO David S. Regnery sold 29,450 shares of the 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 directly 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. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Stock Up 0.9 %

Shares of NYSE TT opened at $384.93 on Monday. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $387.71. The stock has a market cap of $87.13 billion, a PE ratio of 41.13, a P/E/G ratio of 2.45 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $344.77 and a 200 day moving average of $326.02.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data 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 net margin of 12.33% and a return on equity of 33.97%. 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 company earned $2.68 EPS. Trane Technologies’s revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts predict that Trane Technologies plc will post 10.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TT. UBS Group boosted their target price on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Barclays upped their price objective on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Stephens reiterated an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Morgan Stanley assumed coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Finally, Robert W. Baird upped their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One equities 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $343.54.

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.