Sei Investments Co. Boosts Stake in Trane Technologies plc (NYSE:TT)

Sei Investments Co. increased its position in shares of Trane Technologies plc (NYSE:TT) by 3.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 316,015 shares of the company’s stock after buying an additional 9,850 shares during the quarter. Sei Investments Co. owned about 0.14% of Trane Technologies worth $103,950,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Aveo Capital Partners LLC increased its stake in Trane Technologies by 4.5% in the fourth 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 during the period. 9258 Wealth Management LLC grew its holdings in shares of Trane Technologies by 17.5% during the fourth quarter. 9258 Wealth Management LLC now owns 3,652 shares of the company’s stock worth $891,000 after buying an additional 545 shares during the last quarter. D.A. Davidson & CO. increased its position in 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 acquiring an additional 827 shares during the period. Trexquant Investment LP raised its stake in Trane Technologies by 287.4% during the 4th quarter. Trexquant Investment LP now owns 7,086 shares of the company’s stock valued at $1,728,000 after acquiring an additional 5,257 shares during the last quarter. Finally, Aigen Investment Management LP lifted its position in Trane Technologies by 26.3% during the 4th quarter. Aigen Investment Management LP now owns 1,359 shares of the company’s stock worth $331,000 after acquiring an additional 283 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In related 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 sale, 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 SEC, which is available through this hyperlink. In other news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the company’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 completion of the sale, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Barclays boosted their price objective on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. UBS Group raised their target price 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. Royal Bank of Canada boosted their price target 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, Morgan Stanley assumed coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $343.54.

Trane Technologies Price Performance

TT stock opened at $384.93 on Friday. The firm has a 50 day moving average of $344.77 and a 200-day moving average of $325.74. The company 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 plc has a 12-month low of $184.02 and a 12-month high of $387.71.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. Trane Technologies’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the business posted $2.68 EPS. As a group, equities analysts expect that Trane Technologies plc will post 10.87 EPS 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.