Ritholtz Wealth Management Buys 71 Shares of Trane Technologies plc (NYSE:TT)

Ritholtz Wealth Management raised its position in shares of Trane Technologies plc (NYSE:TT) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,297 shares of the company’s stock after buying an additional 71 shares during the quarter. Ritholtz Wealth Management’s holdings in Trane Technologies were worth $479,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Tidal Investments LLC boosted its holdings in Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after acquiring an additional 2,874 shares in the last quarter. Synovus Financial Corp increased its stake in Trane Technologies by 16.8% during the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after purchasing an additional 1,271 shares in the last quarter. GDS Wealth Management raised its holdings in shares of Trane Technologies by 4.3% in the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after buying an additional 2,124 shares during the last quarter. Albar Capital Ltd acquired a new stake in shares of Trane Technologies during the second quarter worth $14,556,000. Finally, King Wealth Management Group purchased a new stake in shares of Trane Technologies during the third quarter valued at $1,879,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $397.02 on Wednesday. The company has a market capitalization of $89.34 billion, a PE ratio of 36.83, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The company’s fifty day moving average price is $395.28 and its 200 day moving average price is $374.22. Trane Technologies plc has a 1 year low of $249.21 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the company posted $2.79 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, research analysts predict that Trane Technologies plc will post 11.15 earnings per share for the current year.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TT shares. Robert W. Baird lowered their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Citigroup reduced their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. dropped their target price on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Barclays raised their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $420.64.

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.