Trane Technologies plc (NYSE:TT) Shares Purchased by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. raised its stake in shares of Trane Technologies plc (NYSE:TT) by 42.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,847 shares of the company’s stock after buying an additional 547 shares during the period. Sovereign Financial Group Inc.’s holdings in Trane Technologies were worth $682,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TT. AdvisorNet Financial Inc boosted its stake in shares of 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 acquiring an additional 50 shares during the last quarter. Courier Capital LLC lifted its holdings in Trane Technologies by 6.5% in the 4th quarter. Courier Capital LLC now owns 1,598 shares of the company’s stock valued at $590,000 after purchasing an additional 98 shares in the last quarter. Noble Family Wealth LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth about $289,000. Miracle Mile Advisors LLC purchased a new stake in shares of Trane Technologies during the fourth quarter worth about $2,548,000. Finally, Wedmont Private Capital raised its position in shares of Trane Technologies by 4.8% in the fourth quarter. Wedmont Private Capital now owns 2,983 shares of the company’s stock valued at $1,125,000 after buying an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on TT shares. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Mizuho lifted their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Citigroup dropped their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday. Northcoast Research began coverage on Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target for the company. Finally, HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $414.43.

Trane Technologies Price Performance

TT opened at $382.60 on Wednesday. Trane Technologies plc has a 52-week low of $242.81 and a 52-week high of $422.00. The company has a 50 day moving average of $396.47 and a two-hundred day moving average of $372.50. The company has a market cap of $86.09 billion, a P/E ratio of 35.49, a P/E/G ratio of 2.38 and a beta of 1.06. 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 announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share 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 firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the company earned $2.79 EPS. The firm’s revenue was up 10.0% on a year-over-year basis. On average, analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current year.

Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction that occurred 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 owns 12,893 shares in the company, valued at $5,363,488. This represents a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.38% of the company’s stock.

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.