Patron Partners LLC Boosts Holdings in Trane Technologies plc (NYSE:TT)

Patron Partners LLC lifted its stake in Trane Technologies plc (NYSE:TT) by 27.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,478 shares of the company’s stock after buying an additional 316 shares during the quarter. Patron Partners LLC’s holdings in Trane Technologies were worth $486,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Trane Technologies by 0.9% in the first quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after buying an additional 174,251 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Trane Technologies by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after buying an additional 80,536 shares during the last quarter. Norges Bank purchased a new position in shares of Trane Technologies in the fourth quarter valued at approximately $655,804,000. Capital World Investors lifted its holdings in Trane Technologies by 0.6% in the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock valued at $530,870,000 after purchasing an additional 11,930 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Trane Technologies by 17.3% during the fourth quarter. Franklin Resources Inc. now owns 1,655,459 shares of the company’s stock worth $403,766,000 after buying an additional 243,996 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Robert W. Baird lifted their price objective on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada increased their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. UBS Group lifted their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Wells Fargo & Company increased their price target on shares of Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a research report on Friday. Finally, Morgan Stanley initiated coverage on Trane Technologies in a research note on Friday. They issued an “overweight” rating and a $425.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average price target of $337.29.

Insider Transactions at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the firm’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 transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was 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 owns 132,946 shares in the company, valued at $42,708,902.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT remained flat at $342.07 during trading hours on Friday. The company had a trading volume of 1,239,282 shares, compared to its average volume of 1,116,635. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $363.15. The stock has a 50-day simple moving average of $338.47 and a 200 day simple moving average of $319.71. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $77.43 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 2.51 and a beta of 1.01.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. Trane Technologies’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the company earned $2.68 earnings per share. As a group, equities research analysts anticipate that Trane Technologies plc will post 10.82 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.