Bank of Montreal Can Has $135.53 Million Holdings in Trane Technologies plc (NYSE:TT)

Bank of Montreal Can decreased its position in Trane Technologies plc (NYSE:TT) by 31.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 403,648 shares of the company’s stock after selling 189,192 shares during the period. Bank of Montreal Can owned about 0.18% of Trane Technologies worth $135,525,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PFG Private Wealth Management LLC lifted its holdings in Trane Technologies by 4.7% in the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after purchasing an additional 32 shares during the last quarter. Center for Financial Planning Inc. lifted its stake in shares of Trane Technologies by 1.7% in the first quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock worth $624,000 after buying an additional 34 shares during the last quarter. Bell Investment Advisors Inc boosted its holdings in shares of Trane Technologies by 26.5% during the 2nd quarter. Bell Investment Advisors Inc now owns 167 shares of the company’s stock worth $55,000 after buying an additional 35 shares during the period. Muirfield Wealth Advisors LLC raised its holdings in Trane Technologies by 4.1% in the 2nd quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock worth $309,000 after acquiring an additional 37 shares during the period. Finally, Pure Financial Advisors LLC grew its holdings in Trane Technologies by 5.2% in the 2nd quarter. Pure Financial Advisors LLC now owns 765 shares of the company’s stock valued at $252,000 after buying an additional 38 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 29,450 shares of the business’s 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 transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO David S. Regnery sold 29,450 shares of the business’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 sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 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. Company insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of TT opened at $387.53 on Tuesday. The firm has a market capitalization of $87.72 billion, a PE ratio of 41.40, a P/E/G ratio of 2.45 and a beta of 1.01. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $389.53. The stock has a 50 day simple moving average of $345.70 and a 200 day simple moving average of $326.72. 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 released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm posted $2.68 earnings per share. Sell-side analysts predict that Trane Technologies plc will post 10.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TT. UBS Group increased their target price on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Barclays increased their price objective on Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Stephens restated an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Finally, Morgan Stanley began coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $343.54.

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.