DAVENPORT & Co LLC Grows Stock Holdings in Trane Technologies plc (NYSE:TT)

DAVENPORT & Co LLC lifted its position in shares of Trane Technologies plc (NYSE:TT) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 27,503 shares of the company’s stock after purchasing an additional 900 shares during the period. DAVENPORT & Co LLC’s holdings in Trane Technologies were worth $10,158,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TT. Global Wealth Strategies & Associates bought a new stake in shares of Trane Technologies in the 4th quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in Trane Technologies in the third quarter valued at $27,000. DT Investment Partners LLC bought a new stake in Trane Technologies in the third quarter valued at $36,000. Sound Income Strategies LLC raised its holdings in Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Trane Technologies in the 2nd quarter worth about $39,000. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on TT. JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a research report on Thursday, October 31st. Barclays increased their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Citigroup decreased their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $415.25.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the firm’s 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 sale, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

TT stock opened at $362.47 on Monday. The stock’s 50 day simple moving average is $389.53 and its 200 day simple moving average is $376.56. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 12-month low of $250.79 and a 12-month high of $422.00. The stock has a market capitalization of $81.56 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 1.96 and a beta of 1.06.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. As a group, research analysts forecast that Trane Technologies plc will post 11.16 earnings per share for the current fiscal year.

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.