Noble Family Wealth LLC purchased a new stake in shares of Trane Technologies plc (NYSE:TT – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 780 shares of the company’s stock, valued at approximately $289,000.
Several other hedge funds have also modified their holdings of TT. LPL Financial LLC boosted its holdings in Trane Technologies by 15.8% in the 2nd quarter. LPL Financial LLC now owns 142,879 shares of the company’s stock worth $46,997,000 after buying an additional 19,521 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Trane Technologies by 3.2% during the second quarter. Oppenheimer & Co. Inc. now owns 9,079 shares of the company’s stock worth $2,986,000 after purchasing an additional 282 shares in the last quarter. CoreCap Advisors LLC acquired a new position in Trane Technologies in the 2nd quarter valued at $455,000. Parallel Advisors LLC lifted its stake in shares of Trane Technologies by 16.4% in the second quarter. Parallel Advisors LLC now owns 2,468 shares of the company’s stock worth $812,000 after buying an additional 348 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in Trane Technologies by 4.5% in the 2nd quarter. William Blair Investment Management LLC now owns 146,606 shares of the company’s stock worth $48,223,000 after purchasing an additional 6,375 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction 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 transaction, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.
Trane Technologies Stock Down 0.1 %
Trane Technologies (NYSE:TT – Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the prior year, the business posted $2.79 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Research analysts predict that Trane Technologies plc will post 11.13 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on TT shares. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Northcoast Research assumed coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective for the company. Royal Bank of Canada lifted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Citigroup cut their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday. Finally, Robert W. Baird decreased their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $414.43.
View Our Latest Research Report on TT
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.
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