Ensign Peak Advisors Inc Lowers Position in Trane Technologies plc (NYSE:TT)

Ensign Peak Advisors Inc reduced its stake in Trane Technologies plc (NYSE:TT) by 5.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,856 shares of the company’s stock after selling 2,165 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Trane Technologies were worth $13,439,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC increased its stake 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 during the last quarter. Nordea Investment Management AB raised its stake in shares of Trane Technologies by 3.0% during the 1st quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock valued at $135,796,000 after purchasing an additional 13,078 shares during the period. Sei Investments Co. lifted its holdings in Trane Technologies by 379.2% during the 1st quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock worth $91,909,000 after purchasing an additional 242,271 shares in the last quarter. GSA Capital Partners LLP bought a new position in Trane Technologies in the 4th quarter worth about $3,086,000. Finally, Capital World Investors grew its holdings in Trane Technologies by 0.6% during 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 hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on TT. UBS Group raised their price objective 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. Wells Fargo & Company lifted their price target on Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Stephens restated an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Royal Bank of Canada lifted 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 report on Thursday, August 1st. Finally, Barclays increased their price target on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $343.54.

Insider Activity

In related news, 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 transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $27,447,862.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 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 transaction, the chief executive officer now directly 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. Insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $387.53 on Tuesday. The company’s fifty day moving average is $345.70 and its 200 day moving average is $326.72. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $389.53. The stock has a market cap of $87.72 billion, a PE ratio of 41.40, a PEG ratio of 2.45 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released 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 during the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the previous year, the company posted $2.68 EPS. Trane Technologies’s revenue for the quarter was up 12.8% on a year-over-year basis. Research analysts anticipate that Trane Technologies plc will post 10.87 earnings per share for the current year.

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.