Sanibel Captiva Trust Company Inc. Purchases 539 Shares of Trane Technologies plc (NYSE:TT)

Sanibel Captiva Trust Company Inc. grew its holdings in Trane Technologies plc (NYSE:TT) by 96.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,097 shares of the company’s stock after acquiring an additional 539 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Trane Technologies were worth $405,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TT. Trust Point Inc. increased its stake in Trane Technologies by 3.1% in the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after purchasing an additional 27 shares in the last quarter. Cobblestone Capital Advisors LLC NY grew its stake in shares of Trane Technologies by 1.8% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock valued at $579,000 after buying an additional 27 shares during the period. First Pacific Financial increased its position in Trane Technologies by 1.1% in the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after buying an additional 28 shares in the last quarter. Wescott Financial Advisory Group LLC boosted its holdings in Trane Technologies by 1.7% in the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after acquiring an additional 28 shares in the last quarter. Finally, Greenleaf Trust increased its holdings in shares of Trane Technologies by 0.5% during the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after acquiring an additional 29 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Trane Technologies stock opened at $389.48 on Monday. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The business’s 50 day simple moving average is $395.78 and its 200 day simple moving average is $373.51. Trane Technologies plc has a 12 month low of $244.11 and a 12 month high of $422.00. The company has a market cap of $87.64 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 1.95 and a beta of 1.06.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the prior year, the firm earned $2.79 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Sell-side analysts forecast that Trane Technologies plc will post 11.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TT. Wells Fargo & Company reduced their price target on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Royal Bank of Canada increased their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group lifted their target price on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. UBS Group began coverage on Trane Technologies in a research report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target for the company. Finally, Barclays upped their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. One equities 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 stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $420.64.

Insiders Place Their Bets

In other news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was 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 directly owns 12,893 shares of the company’s stock, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.38% of the company’s stock.

About Trane Technologies

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.