Allworth Financial LP trimmed its holdings in Trane Technologies plc (NYSE:TT – Free Report) by 14.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,430 shares of the company’s stock after selling 395 shares during the quarter. Allworth Financial LP’s holdings in Trane Technologies were worth $465,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Strs Ohio boosted its holdings in shares of Trane Technologies by 1.3% in the first quarter. Strs Ohio now owns 60,232 shares of the company’s stock valued at $11,081,000 after acquiring an additional 796 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Trane Technologies by 17.9% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,920 shares of the company’s stock worth $353,000 after purchasing an additional 292 shares during the period. Balentine LLC lifted its holdings in shares of Trane Technologies by 11.7% during the first quarter. Balentine LLC now owns 1,658 shares of the company’s stock worth $305,000 after purchasing an additional 174 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Trane Technologies by 15.9% during the first quarter. Janney Montgomery Scott LLC now owns 112,405 shares of the company’s stock worth $20,680,000 after purchasing an additional 15,449 shares during the period. Finally, Westpac Banking Corp lifted its holdings in shares of Trane Technologies by 82.2% during the first quarter. Westpac Banking Corp now owns 78,355 shares of the company’s stock worth $14,416,000 after purchasing an additional 35,343 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
TT has been the subject of several recent research reports. Barclays increased their price target on Trane Technologies from $210.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. Citigroup increased their price objective on Trane Technologies from $218.00 to $237.00 in a research report on Thursday, August 3rd. Wells Fargo & Company increased their price objective on Trane Technologies from $172.00 to $181.00 in a research report on Monday, July 10th. Morgan Stanley increased their price objective on Trane Technologies from $231.00 to $234.00 and gave the stock an “overweight” rating in a research report on Friday, September 22nd. Finally, Royal Bank of Canada increased their price objective on Trane Technologies from $194.00 to $204.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $198.59.
Insiders Place Their Bets
In other Trane Technologies news, SVP Evan M. Turtz sold 6,108 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $205.21, for a total value of $1,253,422.68. Following the sale, the senior vice president now directly owns 19,666 shares of the company’s stock, valued at approximately $4,035,659.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Trane Technologies news, SVP Evan M. Turtz sold 6,108 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $205.21, for a total value of $1,253,422.68. Following the sale, the senior vice president now directly owns 19,666 shares of the company’s stock, valued at approximately $4,035,659.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Linda P. Hudson sold 3,100 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $204.70, for a total value of $634,570.00. Following the completion of the sale, the director now directly owns 4,332 shares in the company, valued at $886,760.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,374 shares of company stock valued at $4,080,669. Insiders own 0.39% of the company’s stock.
Trane Technologies Stock Down 0.6 %
TT opened at $202.91 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.71. The firm has a market cap of $46.34 billion, a P/E ratio of 25.02, a PEG ratio of 1.80 and a beta of 1.01. Trane Technologies plc has a 52 week low of $139.07 and a 52 week high of $211.58. The business’s fifty day simple moving average is $202.18 and its 200 day simple moving average is $188.25.
Trane Technologies (NYSE:TT – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.12. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.61 billion. Trane Technologies had a return on equity of 31.22% and a net margin of 11.18%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.16 earnings per share. As a group, equities research analysts anticipate that Trane Technologies plc will post 8.86 EPS for the current fiscal year.
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.
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