Great Waters Wealth Management Buys New Shares in Trane Technologies plc (NYSE:TT)

Great Waters Wealth Management purchased a new position in shares of Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 575 shares of the company’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. J. W. Coons Advisors LLC purchased a new position in shares of Trane Technologies during the fourth quarter valued at approximately $220,000. Rafferty Asset Management LLC raised its holdings in Trane Technologies by 5.5% in the 4th quarter. Rafferty Asset Management LLC now owns 19,158 shares of the company’s stock worth $4,673,000 after purchasing an additional 992 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Trane Technologies in the 4th quarter worth about $309,000. CIBC Private Wealth Group LLC increased its position in shares of Trane Technologies by 1.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 8,503 shares of the company’s stock valued at $2,074,000 after buying an additional 113 shares during the period. Finally, First Trust Advisors LP raised its stake in Trane Technologies by 33.0% in the fourth quarter. First Trust Advisors LP now owns 179,917 shares of the company’s stock worth $43,882,000 after buying an additional 44,607 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TT shares. Barclays increased their price objective on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley assumed coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective on the stock. Robert W. Baird raised their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada boosted their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research 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 report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $345.92.

Trane Technologies Stock Performance

Trane Technologies stock traded up $1.43 during midday trading on Friday, hitting $388.36. The stock had a trading volume of 595,803 shares, compared to its average volume of 1,106,457. The firm’s fifty day moving average is $355.12 and its two-hundred day moving average is $332.35. The company has a market capitalization of $87.91 billion, a PE ratio of 41.50, a P/E/G ratio of 2.68 and a beta of 1.01. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $391.94. 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 announced 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. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same period last year, the firm posted $2.68 EPS. The company’s revenue was up 12.8% on a year-over-year basis. On average, research analysts forecast that Trane Technologies plc will post 10.87 EPS for the current year.

Insider Activity

In other news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies 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 sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

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.