Pacer Advisors Inc. Raises Stock Position in Trane Technologies plc (NYSE:TT)

Pacer Advisors Inc. grew its holdings in Trane Technologies plc (NYSE:TT) by 3.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,415 shares of the company’s stock after acquiring an additional 583 shares during the period. Pacer Advisors Inc.’s holdings in Trane Technologies were worth $6,057,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. GoalVest Advisory LLC increased its stake in 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 buying an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Trane Technologies during the 1st quarter worth $27,000. BOK Financial Private Wealth Inc. purchased a new stake in Trane Technologies during the 1st quarter worth $30,000. Fortitude Family Office LLC increased its stake in Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after buying an additional 43 shares during the period. Finally, Triad Wealth Partners LLC purchased a new stake in Trane Technologies during the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the topic of several analyst reports. Royal Bank of Canada lifted 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 boosted their target price on shares of Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Morgan Stanley began coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. Stephens reissued an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. Finally, Barclays boosted their target price on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $343.54.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were 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 of the company’s stock, valued at approximately $27,447,862.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO David S. Regnery sold 29,450 shares of the company’s 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 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 document filed with the SEC, which is available at this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the company’s 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 sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $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 0.7 %

NYSE TT opened at $387.53 on Tuesday. Trane Technologies plc has a one year low of $184.02 and a one year high of $389.53. The company has a 50-day simple moving average of $345.70 and a 200-day simple moving average of $326.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. The firm has a market capitalization of $87.72 billion, a PE ratio of 41.40, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted 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 previous year, the business posted $2.68 EPS. On average, equities analysts forecast that Trane Technologies plc will post 10.87 earnings per share 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.