Kayne Anderson Rudnick Investment Management LLC Cuts Stock Holdings in Trane Technologies plc (NYSE:TT)

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in Trane Technologies plc (NYSE:TT) by 12.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 104,402 shares of the company’s stock after selling 14,972 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Trane Technologies were worth $34,341,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GoalVest Advisory LLC raised its holdings in Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Trane Technologies during the 1st quarter worth approximately $27,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Trane Technologies during the 1st quarter valued at approximately $30,000. Fortitude Family Office LLC lifted its holdings in Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after acquiring an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in Trane Technologies in the second quarter worth approximately $39,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. 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 target on the stock. Barclays increased their target price on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird boosted their target price on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One 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’s stock. According to MarketBeat.com, Trane Technologies 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 firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO David S. Regnery sold 29,450 shares of the company’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 legal filing with the SEC, which can be accessed through the SEC website. 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 value of $593,213.25. Following 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 currently owned by company insiders.

Trane Technologies Trading Up 0.9 %

NYSE: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 firm has a market cap of $87.13 billion, a PE ratio of 41.13, a price-to-earnings-growth 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. The stock has a fifty day moving average price of $344.77 and a 200 day moving average price of $325.74.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $5.13 billion. During the same quarter last year, the business posted $2.68 EPS. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. Sell-side analysts anticipate that Trane Technologies plc will post 10.87 earnings per share for the current fiscal 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.