Trane Technologies plc (NYSE:TT) Shares Bought by 1832 Asset Management L.P.

1832 Asset Management L.P. raised its holdings in Trane Technologies plc (NYSE:TT) by 7,363.1% in the second quarter, Holdings Channel.com reports. The fund owned 422,785 shares of the company’s stock after acquiring an additional 417,120 shares during the period. 1832 Asset Management L.P.’s holdings in Trane Technologies were worth $139,067,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Trane Technologies by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after acquiring an additional 174,251 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Trane Technologies by 0.5% during the first quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock valued at $5,221,599,000 after buying an additional 80,536 shares in the last quarter. Capital World Investors lifted its stake in Trane Technologies by 0.6% during the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock valued at $530,870,000 after buying an additional 11,930 shares in the last quarter. Magellan Asset Management Ltd lifted its stake in Trane Technologies by 4.6% during the fourth quarter. Magellan Asset Management Ltd now owns 1,151,255 shares of the company’s stock valued at $280,791,000 after buying an additional 50,247 shares in the last quarter. Finally, TD Asset Management Inc lifted its stake in Trane Technologies by 41.2% during the first quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock valued at $318,402,000 after buying an additional 309,738 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on TT. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Royal Bank of Canada upped 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. Robert W. Baird upped their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Morgan Stanley started coverage on shares of Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective for the company. Finally, Stephens reissued an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $343.54.

Trane Technologies Trading Up 0.9 %

NYSE:TT opened at $384.93 on Friday. The stock’s 50 day moving average price is $344.77 and its 200 day moving average price is $325.74. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $387.71. The company has a market capitalization of $87.13 billion, a P/E ratio of 41.13, a P/E/G ratio of 2.45 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the prior year, the company posted $2.68 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. On average, research analysts forecast that Trane Technologies plc will post 10.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred 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 SEC, which is available at the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

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.