Newbridge Financial Services Group Inc. Boosts Stock Position in Trane Technologies plc (NYSE:TT)

Newbridge Financial Services Group Inc. grew its holdings in shares of Trane Technologies plc (NYSE:TT) by 1,495.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,436 shares of the company’s stock after buying an additional 1,346 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Trane Technologies were worth $472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Heritage Wealth Management Inc. acquired a new position in Trane Technologies in the second quarter valued at $249,000. Sanctuary Advisors LLC acquired a new stake in Trane Technologies during the 2nd quarter worth $7,687,000. Cetera Investment Advisers raised its stake in Trane Technologies by 1.0% during the 2nd quarter. Cetera Investment Advisers now owns 53,873 shares of the company’s stock valued at $17,721,000 after acquiring an additional 550 shares during the last quarter. SPC Financial Inc. grew its stake in shares of Trane Technologies by 75.5% in the 2nd quarter. SPC Financial Inc. now owns 1,223 shares of the company’s stock valued at $402,000 after purchasing an additional 526 shares during the last quarter. Finally, Advisory Alpha LLC increased its holdings in shares of Trane Technologies by 11.0% in the second quarter. Advisory Alpha LLC now owns 744 shares of the company’s stock valued at $245,000 after purchasing an additional 74 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Down 0.5 %

NYSE:TT opened at $386.63 on Wednesday. The stock has a 50-day simple moving average of $351.56 and a 200 day simple moving average of $330.90. Trane Technologies plc has a one year low of $184.02 and a one year high of $391.94. The company has a market capitalization of $87.51 billion, a price-to-earnings ratio of 41.31, a price-to-earnings-growth ratio of 2.68 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17.

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

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following 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 filing with the SEC, which is available through this hyperlink. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the company’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 sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now 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. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their target price on shares of Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Morgan Stanley began coverage on Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 target price on the stock. Barclays upped their price target on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Stephens reissued an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.