True North Advisors LLC Increases Stake in Trane Technologies plc (NYSE:TT)

True North Advisors LLC raised its stake in shares of Trane Technologies plc (NYSE:TT) by 13.7% during the fourth quarter, HoldingsChannel reports. The firm owned 2,288 shares of the company’s stock after purchasing an additional 275 shares during the quarter. True North Advisors LLC’s holdings in Trane Technologies were worth $845,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies during the 3rd quarter valued at about $27,000. Global Wealth Strategies & Associates purchased a new stake in Trane Technologies during the fourth quarter worth $26,000. DT Investment Partners LLC acquired a new stake in shares of Trane Technologies during the 3rd quarter valued at about $36,000. Pittenger & Anderson Inc. acquired a new position in Trane Technologies in the 3rd quarter worth about $39,000. Finally, Legacy Investment Solutions LLC purchased a new position in Trane Technologies during the third quarter worth approximately $44,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on TT. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a report on Thursday, October 31st. Barclays increased their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Royal Bank of Canada upped their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Wells Fargo & Company lowered their target price on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Finally, Northcoast Research began coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average target price of $420.64.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by insiders.

Trane Technologies Stock Performance

NYSE TT opened at $399.35 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The company has a market cap of $89.86 billion, a P/E ratio of 37.05, a P/E/G ratio of 2.16 and a beta of 1.06. The stock has a 50-day moving average of $394.99 and a two-hundred day moving average of $374.68. Trane Technologies plc has a 1-year low of $249.21 and a 1-year high of $422.00.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company 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 business earned $2.79 EPS. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, analysts anticipate that Trane Technologies plc will post 11.15 EPS for the current 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.