Trane Technologies plc (NYSE:TT) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its position in Trane Technologies plc (NYSE:TT) by 0.4% in the second quarter, Holdings Channel reports. The firm owned 3,417,674 shares of the company’s stock after selling 13,566 shares during the quarter. Ameriprise Financial Inc.’s holdings in Trane Technologies were worth $1,124,189,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GoalVest Advisory LLC grew its position in shares of Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in Trane Technologies during the first quarter worth $27,000. BOK Financial Private Wealth Inc. acquired a new position in Trane Technologies in the first quarter worth $30,000. Fortitude Family Office LLC increased its stake in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in Trane Technologies during the second quarter valued at $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.0 %

TT stock opened at $387.70 on Thursday. The firm’s 50-day moving average is $346.45 and its two-hundred day moving average is $327.42. The company has a market capitalization of $87.49 billion, a price-to-earnings ratio of 41.42, a price-to-earnings-growth ratio of 2.68 and a beta of 1.01. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $390.60. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62.

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

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction dated 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 $42,708,902.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 $42,708,902.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TT shares. Royal Bank of Canada raised their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Wells Fargo & Company upped their target price on Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Stephens reissued an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. Morgan Stanley began coverage on 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, Barclays raised their target price on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $343.54.

Trane Technologies Company 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.