Raleigh Capital Management Inc. Acquires 100 Shares of Trane Technologies plc (NYSE:TT)

Raleigh Capital Management Inc. grew its holdings in shares of Trane Technologies plc (NYSE:TT) by 21.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 558 shares of the company’s stock after acquiring an additional 100 shares during the period. Raleigh Capital Management Inc.’s holdings in Trane Technologies were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. International Assets Investment Management LLC raised its holdings in Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after acquiring an additional 1,640,569 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after purchasing an additional 671,691 shares in the last quarter. FMR LLC raised its stake in Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after purchasing an additional 397,537 shares during the period. Nordea Investment Management AB lifted its holdings in Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after purchasing an additional 293,916 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Trane Technologies by 76.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company’s stock worth $162,175,000 after purchasing an additional 181,335 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TT shares. Barclays boosted their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Northcoast Research assumed coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Wells Fargo & Company dropped their price target on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Finally, Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $420.64.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Up 0.2 %

Shares of TT opened at $400.46 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average of $394.68 and a 200 day moving average of $374.85. The company has a market cap of $90.11 billion, a PE ratio of 37.15, a P/E/G ratio of 2.16 and a beta of 1.06. Trane Technologies plc has a 52-week low of $250.06 and a 52-week high of $422.00.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned $2.79 EPS. On average, sell-side analysts expect that Trane Technologies plc will post 11.15 EPS 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.