Trane Technologies plc (NYSE:TT) Shares Acquired by Park Place Capital Corp

Park Place Capital Corp lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 1,051.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 334 shares of the company’s stock after acquiring an additional 305 shares during the period. Park Place Capital Corp’s holdings in Trane Technologies were worth $130,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TT. Putnam Investments LLC boosted its stake in Trane Technologies by 27,824.4% in the 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock worth $139,689,000 after buying an additional 570,679 shares during the last quarter. First Financial Bankshares Inc acquired a new stake in Trane Technologies in the 4th quarter worth about $474,000. Kingfisher Capital LLC acquired a new stake in Trane Technologies in the 4th quarter worth about $2,303,000. Fullerton Fund Management Co Ltd. acquired a new stake in Trane Technologies in the 4th quarter worth about $30,198,000. Finally, GSA Capital Partners LLP acquired a new stake in Trane Technologies in the 4th quarter worth about $3,086,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TT. Morgan Stanley began coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday. Royal Bank of Canada lifted their price objective 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. Barclays lifted their price objective on Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $360.58.

Trane Technologies Stock Performance

Shares of TT opened at $396.50 on Wednesday. The business’s 50 day moving average is $356.29 and its two-hundred day moving average is $333.46. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $398.00. The firm has a market cap of $89.75 billion, a price-to-earnings ratio of 42.36, a PEG ratio of 2.68 and a beta of 1.01. 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 (NYSE:TT) last announced its earnings results 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 return on equity of 33.97% and a net margin of 12.33%. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period in the prior year, the company posted $2.68 EPS. Trane Technologies’s quarterly revenue was up 12.8% on a year-over-year basis. Analysts forecast that Trane Technologies plc will post 10.87 EPS for the current fiscal year.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction that occurred 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 approximately $42,708,902.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction that occurred 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the business’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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

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.