695 Shares in Trane Technologies plc (NYSE:TT) Bought by Longboard Asset Management LP

Longboard Asset Management LP bought a new stake in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 695 shares of the company’s stock, valued at approximately $257,000. Trane Technologies accounts for approximately 0.7% of Longboard Asset Management LP’s portfolio, making the stock its 14th biggest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Global Wealth Strategies & Associates purchased a new stake in shares of Trane Technologies during the 4th quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Trane Technologies during the third quarter worth $27,000. DT Investment Partners LLC acquired a new stake in Trane Technologies in the third quarter valued at $36,000. Sound Income Strategies LLC increased its position in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares in the last quarter. Finally, Pittenger & Anderson Inc. acquired a new position in Trane Technologies during the third quarter worth about $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $360.68 on Tuesday. The business’s 50-day simple moving average is $389.53 and its 200-day simple moving average is $376.84. The firm has a market capitalization of $81.16 billion, a P/E ratio of 32.06, a P/E/G ratio of 2.18 and a beta of 1.05. Trane Technologies plc has a 1-year low of $265.37 and a 1-year high of $422.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Equities analysts predict that Trane Technologies plc will post 12.79 EPS for the current year.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on TT. Citigroup dropped their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Melius Research reissued a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Northcoast Research initiated coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 price target on the stock. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada raised their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $415.25.

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.