Xponance Inc. Reduces Stock Position in Trane Technologies plc (NYSE:TT)

Xponance Inc. reduced its position in Trane Technologies plc (NYSE:TT) by 13.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 40,446 shares of the company’s stock after selling 6,504 shares during the period. Xponance Inc.’s holdings in Trane Technologies were worth $13,304,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TT. Aveo Capital Partners LLC raised its position in Trane Technologies by 4.5% in the fourth quarter. Aveo Capital Partners LLC now owns 1,322 shares of the company’s stock valued at $322,000 after purchasing an additional 57 shares during the period. 9258 Wealth Management LLC lifted its holdings in Trane Technologies by 17.5% in the 4th quarter. 9258 Wealth Management LLC now owns 3,652 shares of the company’s stock worth $891,000 after buying an additional 545 shares in the last quarter. Trexquant Investment LP lifted its position in shares of Trane Technologies by 287.4% in the 4th quarter. Trexquant Investment LP now owns 7,086 shares of the company’s stock worth $1,728,000 after buying an additional 5,257 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Trane Technologies by 4.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 8,009 shares of the company’s stock valued at $1,953,000 after buying an additional 366 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of Trane Technologies during the fourth quarter valued at approximately $1,500,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the 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 transaction, 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 Securities & Exchange Commission, which can be accessed 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 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 in the company, valued at approximately $27,447,862.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction 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 owns 132,946 shares in the company, valued at $42,708,902.50. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Stock Performance

NYSE:TT opened at $387.53 on Tuesday. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $389.53. The firm has a market capitalization of $87.72 billion, a PE ratio of 41.40, a PEG ratio of 2.45 and a beta of 1.01. The firm’s fifty day simple moving average is $345.70 and its 200 day simple moving average is $326.72. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results 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. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the previous year, the company earned $2.68 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Trane Technologies plc will post 10.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TT. Royal Bank of Canada raised their target price on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Robert W. Baird boosted their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Barclays raised their target price 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. Morgan Stanley assumed coverage on Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective for the company. Finally, Stephens reaffirmed an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. 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 stock has an average 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.