CCLA Investment Management Sells 39,390 Shares of Trane Technologies plc (NYSE:TT)

CCLA Investment Management lessened its stake in Trane Technologies plc (NYSE:TT) by 13.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 254,881 shares of the company’s stock after selling 39,390 shares during the period. CCLA Investment Management owned about 0.11% of Trane Technologies worth $94,188,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TT. Peoples Financial Services CORP. bought a new stake in Trane Technologies in the 4th quarter valued at $74,000. Oak Thistle LLC bought a new stake in Trane Technologies in the fourth quarter valued at about $489,000. Pines Wealth Management LLC acquired a new position in Trane Technologies in the fourth quarter worth about $453,000. Sovereign Financial Group Inc. lifted its stake in Trane Technologies by 42.1% during the fourth quarter. Sovereign Financial Group Inc. now owns 1,847 shares of the company’s stock worth $682,000 after purchasing an additional 547 shares during the period. Finally, AdvisorNet Financial Inc boosted its holdings in Trane Technologies by 7.0% during the fourth quarter. AdvisorNet Financial Inc now owns 769 shares of the company’s stock valued at $284,000 after purchasing an additional 50 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 1.5 %

TT stock opened at $382.60 on Wednesday. The business has a fifty day moving average of $396.47 and a 200-day moving average of $372.50. The company has a market cap of $86.09 billion, a P/E ratio of 35.49, a PEG ratio of 2.38 and a beta of 1.06. Trane Technologies plc has a twelve month low of $242.81 and a twelve month high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

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, beating analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.79 EPS. As a group, equities research analysts expect that Trane Technologies plc will post 11.13 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on TT shares. Barclays raised their target price on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. The Goldman Sachs Group lifted their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Citigroup dropped their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday. Robert W. Baird reduced their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, UBS Group initiated coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average price target of $414.43.

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.