Trane Technologies plc (NYSE:TT) Stock Holdings Lowered by Tortoise Capital Advisors L.L.C.

Tortoise Capital Advisors L.L.C. cut its position in Trane Technologies plc (NYSE:TT) by 72.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,526 shares of the company’s stock after selling 3,999 shares during the quarter. Tortoise Capital Advisors L.L.C.’s holdings in Trane Technologies were worth $502,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Trane Technologies by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after buying an additional 174,251 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Trane Technologies by 0.5% during the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock valued at $5,221,599,000 after acquiring an additional 80,536 shares in the last quarter. Norges Bank acquired a new position in Trane Technologies during the 4th quarter worth $655,804,000. Capital World Investors grew its stake in shares of Trane Technologies by 0.6% in the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after purchasing an additional 11,930 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Trane Technologies by 17.3% during the fourth quarter. Franklin Resources Inc. now owns 1,655,459 shares of the company’s stock valued at $403,766,000 after purchasing an additional 243,996 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a report on Friday. Stephens reaffirmed an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Morgan Stanley assumed coverage on Trane Technologies in a research report on Friday. They issued an “overweight” rating and a $425.00 target price for the company. Finally, Robert W. Baird increased their price target on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Trane Technologies has an average rating of “Hold” and an average target price of $337.29.

Insider Activity

In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT opened at $342.07 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a 1-year low of $184.02 and a 1-year high of $363.15. The stock has a market capitalization of $77.43 billion, a P/E ratio of 36.55, a P/E/G ratio of 2.51 and a beta of 1.01. The business’s 50-day moving average price is $338.47 and its 200 day moving average price is $319.71.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.68 earnings per share. Analysts expect that Trane Technologies plc will post 10.82 earnings per share for the current year.

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.