Trane Technologies plc (NYSE:TT) Shares Sold by Mascoma Wealth Management LLC

Mascoma Wealth Management LLC trimmed its position in Trane Technologies plc (NYSE:TTGet Rating) by 12.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 586 shares of the company’s stock after selling 86 shares during the quarter. Mascoma Wealth Management LLC’s holdings in Trane Technologies were worth $76,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of Trane Technologies by 12.3% in the 1st quarter. JPMorgan Chase & Co. now owns 19,753,665 shares of the company’s stock valued at $3,016,386,000 after buying an additional 2,159,166 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Trane Technologies by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock valued at $2,769,040,000 after buying an additional 77,924 shares during the last quarter. State Street Corp grew its position in shares of Trane Technologies by 3.4% in the 4th quarter. State Street Corp now owns 10,764,373 shares of the company’s stock valued at $2,174,726,000 after buying an additional 351,926 shares during the last quarter. Norges Bank purchased a new position in shares of Trane Technologies in the 4th quarter valued at $578,209,000. Finally, Ninety One UK Ltd grew its position in shares of Trane Technologies by 5.8% in the 1st quarter. Ninety One UK Ltd now owns 2,763,819 shares of the company’s stock valued at $422,035,000 after buying an additional 150,960 shares during the last quarter. 80.25% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Down 2.8 %

TT stock opened at $147.65 on Friday. Trane Technologies plc has a one year low of $120.64 and a one year high of $204.23. The stock has a market capitalization of $34.21 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 1.86 and a beta of 1.01. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.75 and a current ratio of 1.09. The company has a fifty day moving average of $153.36 and a 200-day moving average of $145.03.

Trane Technologies (NYSE:TTGet Rating) last released its earnings results on Wednesday, August 3rd. The company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.10 by $0.06. Trane Technologies had a net margin of 10.06% and a return on equity of 25.03%. The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter last year, the business earned $1.92 EPS. The business’s revenue was up 9.4% on a year-over-year basis. As a group, analysts expect that Trane Technologies plc will post 7.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Jefferies Financial Group dropped their target price on shares of Trane Technologies from $160.00 to $140.00 in a research report on Friday, July 15th. Cowen raised shares of Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 price objective on the stock in a research report on Friday, July 8th. Morgan Stanley raised their price objective on shares of Trane Technologies from $166.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, September 1st. Credit Suisse Group raised their price objective on shares of Trane Technologies from $165.00 to $169.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. Finally, Wells Fargo & Company raised their price objective on shares of Trane Technologies from $123.00 to $133.00 and gave the stock an “underweight” rating in a research report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $171.50.

Trane Technologies Company Profile

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Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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