Sanctuary Advisors LLC Takes $7.69 Million Position in Trane Technologies plc (NYSE:TT)

Sanctuary Advisors LLC purchased a new stake in shares of Trane Technologies plc (NYSE:TT) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 25,241 shares of the company’s stock, valued at approximately $7,687,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC increased its stake in Trane Technologies by 138.0% during the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock valued at $2,001,000 after purchasing an additional 3,866 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Trane Technologies by 3.0% during the 1st quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock worth $135,796,000 after acquiring an additional 13,078 shares during the last quarter. Sei Investments Co. boosted its holdings in Trane Technologies by 379.2% during the 1st quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock worth $91,909,000 after acquiring an additional 242,271 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Trane Technologies during the 4th quarter worth $3,086,000. Finally, Albar Capital Ltd purchased a new position in Trane Technologies during the 2nd quarter worth $14,556,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.4 %

Shares of Trane Technologies stock opened at $388.45 on Friday. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $391.94. The stock’s 50-day simple moving average is $355.12 and its 200 day simple moving average is $332.35. The stock has a market capitalization of $87.93 billion, a P/E ratio of 41.50, a P/E/G 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 announced its quarterly earnings data 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. 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 for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the previous year, the business posted $2.68 EPS. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, research analysts anticipate that Trane Technologies plc will post 10.87 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Royal Bank of Canada lifted their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Barclays lifted their price objective on shares of Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Robert W. Baird lifted their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. One equities research 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. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average price target of $345.92.

Insider Activity at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was 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 trade was a 0.00 % decrease in their position. 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 company’s 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 sale, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Company 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.