ProShare Advisors LLC Grows Position in Trane Technologies plc (NYSE:TT)

ProShare Advisors LLC grew its stake in Trane Technologies plc (NYSE:TT) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,730 shares of the company’s stock after buying an additional 1,790 shares during the period. ProShare Advisors LLC’s holdings in Trane Technologies were worth $12,082,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GoalVest Advisory LLC grew 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 purchasing an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in Trane Technologies in the 1st quarter worth approximately $27,000. BOK Financial Private Wealth Inc. purchased a new position in Trane Technologies during the 1st quarter worth approximately $30,000. Fortitude Family Office LLC lifted its stake in Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after acquiring an additional 43 shares during the period. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Trane Technologies in the 2nd quarter valued at $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated 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 directly owns 132,946 shares in the company, valued at $42,708,902.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction 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 completion of 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 document filed with the SEC, which can be accessed through this link. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction on Tuesday, August 6th. The stock was 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 owns 132,946 shares in the company, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays boosted their target price on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Royal Bank of Canada upped their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 target price on the stock. Robert W. Baird boosted their price target on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. One equities research 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. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $343.54.

Trane Technologies Stock Up 0.7 %

Shares of NYSE TT opened at $387.53 on Tuesday. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $389.53. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The company’s 50-day simple moving average is $345.70 and its 200-day simple moving average is $326.72. The firm has a market cap of $87.72 billion, a price-to-earnings ratio of 41.40, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.08 by $0.22. The company had revenue of $5.31 billion during 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%. Trane Technologies’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.68 EPS. Equities analysts predict that Trane Technologies plc will post 10.87 EPS for the current fiscal year.

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.