Ieq Capital LLC Grows Holdings in Trane Technologies plc (NYSE:TT)

Ieq Capital LLC boosted its position in Trane Technologies plc (NYSE:TT) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,351 shares of the company’s stock after buying an additional 888 shares during the quarter. Ieq Capital LLC’s holdings in Trane Technologies were worth $4,391,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GoalVest Advisory LLC grew its position in shares of Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after buying an additional 55 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Trane Technologies in the 1st quarter worth about $27,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Trane Technologies in the 1st quarter valued at about $30,000. Fortitude Family Office LLC lifted its position in shares of Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC acquired a new position in Trane Technologies in the second quarter worth about $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on TT shares. Royal Bank of Canada increased 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. Barclays lifted their price objective 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. 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. Stephens reaffirmed an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. Finally, UBS Group increased their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average price target of $343.54.

Insiders Place Their Bets

In related news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction dated 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 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 available through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies 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. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Trane Technologies Stock Performance

Shares of TT stock opened at $384.93 on Friday. 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. The firm has a market capitalization of $87.13 billion, a price-to-earnings ratio of 41.13, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $387.71.

Trane Technologies (NYSE:TT) last issued its quarterly 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. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $2.68 earnings per share. On average, equities research analysts anticipate that Trane Technologies plc will post 10.87 EPS for the current year.

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.