Kimelman & Baird LLC Takes $844,000 Position in Trane Technologies plc (NYSE:TT)

Kimelman & Baird LLC purchased a new position in Trane Technologies plc (NYSE:TT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,565 shares of the company’s stock, valued at approximately $844,000.

Other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC increased its stake in Trane Technologies by 138.0% during the first quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after acquiring an additional 3,866 shares during the last quarter. Nordea Investment Management AB lifted its position in Trane Technologies by 3.0% in the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock worth $135,796,000 after buying an additional 13,078 shares during the last quarter. Sei Investments Co. boosted its stake in Trane Technologies by 379.2% during the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock worth $91,909,000 after buying an additional 242,271 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Trane Technologies in the fourth quarter valued at $3,086,000. Finally, Capital World Investors lifted its holdings in shares of Trane Technologies by 0.6% in the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after acquiring an additional 11,930 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.7 %

NYSE:TT opened at $383.95 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. The firm has a market cap of $86.91 billion, a PE ratio of 41.02, a price-to-earnings-growth ratio of 2.68 and a beta of 1.01. The company has a 50-day moving average of $349.69 and a 200 day moving average of $329.54. Trane Technologies plc has a 1-year low of $184.02 and a 1-year high of $391.90.

Trane Technologies (NYSE:TT) last released its quarterly earnings data 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 firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm earned $2.68 earnings per share. As a group, research analysts anticipate that Trane Technologies plc will post 10.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Royal Bank of Canada increased their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Stephens reissued an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Morgan Stanley began coverage on Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective on the stock. Finally, Robert W. Baird lifted their target price on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $343.54.

Insider Activity

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

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.