Park Avenue Securities LLC Sells 930 Shares of Trane Technologies plc (NYSE:TT)

Park Avenue Securities LLC lessened its position in shares of Trane Technologies plc (NYSE:TT) by 5.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,171 shares of the company’s stock after selling 930 shares during the period. Park Avenue Securities LLC’s holdings in Trane Technologies were worth $5,897,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC increased its position in Trane Technologies by 138.0% during the first quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after acquiring an additional 3,866 shares during the period. Nordea Investment Management AB raised its position in shares of Trane Technologies by 3.0% in the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock valued at $135,796,000 after buying an additional 13,078 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Trane Technologies by 379.2% in the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after buying an additional 242,271 shares during the period. GSA Capital Partners LLP acquired a new stake in Trane Technologies during the fourth quarter worth approximately $3,086,000. Finally, Albar Capital Ltd bought a new position in Trane Technologies during the 2nd quarter worth $14,556,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.4 %

Shares of NYSE TT traded up $1.43 during midday trading on Friday, hitting $388.36. 595,803 shares of the stock traded hands, compared to its average volume of 1,106,457. 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 plc has a one year low of $184.02 and a one year high of $391.94. The business has a 50 day moving average price of $355.12 and a two-hundred day moving average price of $332.35. The company has a market cap 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 (NYSE:TT) last issued 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 firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same period last year, the company earned $2.68 earnings per share. The business’s revenue was up 12.8% on a year-over-year basis. On average, equities analysts predict that Trane Technologies plc will post 10.87 EPS for the current year.

Insiders Place Their Bets

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were 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 of the company’s stock, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the business’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 transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on TT shares. 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 report on Thursday, August 1st. Barclays boosted their price target on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company increased their target price on shares of Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Morgan Stanley assumed coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. Finally, Robert W. Baird upped their price target 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $345.92.

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.