Patton Fund Management Inc. Decreases Stake in Trane Technologies plc (NYSE:TT)

Patton Fund Management Inc. cut its holdings in Trane Technologies plc (NYSE:TT) by 13.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,398 shares of the company’s stock after selling 1,859 shares during the period. Patton Fund Management Inc.’s holdings in Trane Technologies were worth $4,579,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Tidal Investments LLC boosted its position in Trane Technologies by 22.2% during the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after purchasing an additional 2,874 shares during the period. Synovus Financial Corp increased its position in shares of Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after buying an additional 1,271 shares during the period. Ameritas Advisory Services LLC purchased a new position in Trane Technologies during the fourth quarter valued at approximately $468,000. HB Wealth Management LLC lifted its stake in Trane Technologies by 14.3% in the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after purchasing an additional 711 shares in the last quarter. Finally, GDS Wealth Management increased its holdings in shares of Trane Technologies by 4.3% in the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after purchasing an additional 2,124 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TT shares. Wells Fargo & Company cut their price objective on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price objective on shares of Trane Technologies from $390.00 to $387.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research note on Tuesday. Citigroup cut their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, UBS Group started coverage on Trane Technologies in a research report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $417.81.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the firm’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 transaction 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 trade represents a 25.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.38% of the stock is currently owned by insiders.

Trane Technologies Price Performance

Shares of NYSE TT opened at $365.41 on Wednesday. The firm has a market cap of $82.23 billion, a P/E ratio of 33.90, a PEG ratio of 2.16 and a beta of 1.06. Trane Technologies plc has a twelve month low of $250.77 and a twelve month high of $422.00. 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 company has a 50 day moving average of $392.55 and a 200 day moving average of $376.35.

Trane Technologies (NYSE:TT) last issued its 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 return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the previous year, the firm earned $2.79 EPS. Trane Technologies’s revenue was up 10.0% on a year-over-year basis. As a group, research analysts expect that Trane Technologies plc will post 11.16 EPS for the current fiscal year.

About Trane Technologies

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.