Thrivent Financial for Lutherans Sells 114 Shares of Trane Technologies plc (NYSE:TT)

Thrivent Financial for Lutherans cut its stake in Trane Technologies plc (NYSE:TT) by 0.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,868 shares of the company’s stock after selling 114 shares during the quarter. Thrivent Financial for Lutherans owned about 0.06% of Trane Technologies worth $41,403,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Trane Technologies by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after purchasing an additional 174,251 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Trane Technologies by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after acquiring an additional 80,536 shares in the last quarter. Capital World Investors increased its stake in shares of Trane Technologies by 0.6% in the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after acquiring an additional 11,930 shares in the last quarter. Magellan Asset Management Ltd increased its stake in shares of Trane Technologies by 4.6% in the 4th quarter. Magellan Asset Management Ltd now owns 1,151,255 shares of the company’s stock worth $280,791,000 after acquiring an additional 50,247 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in shares of Trane Technologies by 41.2% in the 1st quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock worth $318,402,000 after acquiring an additional 309,738 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In other news, 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 sale, the chief executive officer now 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 is accessible through this hyperlink. In other news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the 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 owns 83,517 shares in the company, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $384.93 on Monday. The firm’s 50-day moving average price is $344.77 and its 200-day moving average price is $326.02. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The company has a market cap of $87.13 billion, a PE ratio of 41.13, a PEG ratio of 2.45 and a beta of 1.01. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $387.71.

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

Analyst Upgrades and Downgrades

TT has been the subject of several research reports. Robert W. Baird increased their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Stephens reiterated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Royal Bank of Canada increased 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. Wells Fargo & Company increased their price target on shares of Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Finally, Morgan Stanley started coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to 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.