Bridges Investment Management Inc. Grows Stock Position in Trane Technologies plc (NYSE:TT)

Bridges Investment Management Inc. boosted its position in shares of Trane Technologies plc (NYSE:TT) by 100.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,600 shares of the company’s stock after buying an additional 800 shares during the quarter. Bridges Investment Management Inc.’s holdings in Trane Technologies were worth $526,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of TT. GoalVest Advisory LLC boosted its stake in shares of Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new stake in Trane Technologies in the first quarter worth about $27,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Trane Technologies during the first quarter valued at approximately $30,000. Fortitude Family Office LLC grew its stake 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 valued at $37,000 after buying an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Trane Technologies in the second quarter worth approximately $39,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.9 %

TT opened at $384.93 on Friday. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $387.71. The stock has a fifty day moving average price of $344.77 and a 200-day moving average price of $325.74. The firm has a market cap 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 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 released its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.08 by $0.22. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.68 earnings per share. As a group, equities research analysts anticipate that Trane Technologies plc will post 10.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TT shares. Barclays boosted 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. Wells Fargo & Company upped their price target 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. UBS Group lifted their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Royal Bank of Canada upped their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird lifted their price target 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. One equities research 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $343.54.

Insiders Place Their Bets

In other news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction 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 sale, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Regnery sold 29,450 shares of the firm’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 disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Company 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.