American Century Companies Inc. Decreases Stake in Trane Technologies plc (NYSE:TT)

American Century Companies Inc. reduced its position in Trane Technologies plc (NYSE:TT) by 37.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 246,239 shares of the company’s stock after selling 149,452 shares during the period. American Century Companies Inc.’s holdings in Trane Technologies were worth $80,995,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TT. Aveo Capital Partners LLC lifted its position in shares of Trane Technologies by 4.5% in the fourth quarter. Aveo Capital Partners LLC now owns 1,322 shares of the company’s stock worth $322,000 after buying an additional 57 shares in the last quarter. 9258 Wealth Management LLC lifted its position in shares of Trane Technologies by 17.5% in the fourth quarter. 9258 Wealth Management LLC now owns 3,652 shares of the company’s stock worth $891,000 after buying an additional 545 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Trane Technologies by 17.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 7,334 shares of the company’s stock worth $1,789,000 after buying an additional 1,073 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in Trane Technologies by 50.8% during the fourth quarter. Kingsview Wealth Management LLC now owns 2,830 shares of the company’s stock worth $690,000 after acquiring an additional 953 shares during the last quarter. Finally, Tortoise Investment Management LLC increased its stake in Trane Technologies by 2,275.0% during the fourth quarter. Tortoise Investment Management LLC now owns 380 shares of the company’s stock worth $93,000 after acquiring an additional 364 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 1.3 %

TT opened at $364.23 on Friday. The stock’s fifty day moving average is $341.06 and its two-hundred day moving average is $322.54. The company has a market capitalization of $82.44 billion, a P/E ratio of 38.91, a PEG ratio of 2.45 and a beta of 1.01. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $366.21. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Stephens reaffirmed an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. Wells Fargo & Company raised their price objective on Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Robert W. Baird raised their price objective on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Barclays raised their price objective on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley started coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $337.29.

Insiders Place Their Bets

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