Inspire Investing LLC Makes New Investment in Trane Technologies plc (NYSE:TT)

Inspire Investing LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,333 shares of the company’s stock, valued at approximately $767,000.

A number of other hedge funds have also recently added to or reduced their stakes in TT. Aveo Capital Partners LLC boosted its holdings in shares of Trane Technologies by 4.5% in the 4th 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 in the last quarter. 9258 Wealth Management LLC boosted its holdings in shares of Trane Technologies by 17.5% in the 4th quarter. 9258 Wealth Management LLC now owns 3,652 shares of the company’s stock valued at $891,000 after purchasing an additional 545 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Trane Technologies by 14.9% in the 4th quarter. D.A. Davidson & CO. now owns 6,377 shares of the company’s stock valued at $1,555,000 after purchasing an additional 827 shares in the last quarter. Trexquant Investment LP boosted its holdings 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 valued at $1,728,000 after purchasing an additional 5,257 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of Trane Technologies by 7.7% in the 4th quarter. Assetmark Inc. now owns 19,402 shares of the company’s stock valued at $4,732,000 after purchasing an additional 1,394 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $42,708,902.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Raymond D. Pittard sold 1,805 shares of the 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 owns 83,517 shares in the company, valued at $27,447,862.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the transaction, the chief executive officer now directly 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 currently owned by corporate insiders.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $384.93 on Friday. Trane Technologies plc has a one year low of $184.02 and a one year high of $387.71. The firm has a market capitalization of $87.13 billion, a price-to-earnings ratio of 41.13, a PEG ratio of 2.45 and a beta of 1.01. The business has a 50-day simple moving average of $344.77 and a 200 day simple moving average of $325.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 31st. The company reported $3.30 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 business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same period in the previous year, the company posted $2.68 EPS. The firm’s revenue was up 12.8% compared to the same quarter last year. On average, research analysts anticipate that Trane Technologies plc will post 10.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TT has been the topic of several recent research reports. Barclays raised their price objective on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Morgan Stanley initiated coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective on the stock. UBS Group raised their price objective on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Wells Fargo & Company lifted their target price on Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada lifted their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus target price of $343.54.

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.