Scientech Research LLC Invests $676,000 in Trane Technologies plc (NYSE:TT)

Scientech Research LLC bought a new position in Trane Technologies plc (NYSE:TT) in the 2nd quarter, Holdings Channel reports. The firm bought 2,055 shares of the company’s stock, valued at approximately $676,000.

Several other institutional investors have also recently made changes to their positions in TT. Swedbank AB bought a new stake in shares of Trane Technologies in the 1st quarter worth about $206,211,000. Putnam Investments LLC lifted its holdings in Trane Technologies by 27,824.4% during the 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock valued at $139,689,000 after buying an additional 570,679 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in Trane Technologies by 7,363.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after buying an additional 417,120 shares in the last quarter. Kodai Capital Management LP bought a new stake in Trane Technologies during the 4th quarter valued at about $77,615,000. Finally, TD Asset Management Inc lifted its holdings in Trane Technologies by 41.2% during the 1st 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. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of TT opened at $383.95 on Friday. The company has a market cap of $86.91 billion, a price-to-earnings ratio of 41.02, a price-to-earnings-growth ratio of 2.68 and a beta of 1.01. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $391.90. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average of $349.69 and a two-hundred day moving average of $329.24.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. The company had revenue of $5.31 billion during 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%. Trane Technologies’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the firm earned $2.68 earnings per share. As a group, analysts predict that Trane Technologies plc will post 10.87 earnings per share for the current fiscal year.

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The sale was disclosed in a filing with the SEC, which is available at 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 transaction of $9,460,812.50. Following the transaction, 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. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of research analyst reports. Stephens reiterated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Morgan Stanley initiated coverage on shares of Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective for the company. Barclays lifted their price objective 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. UBS Group boosted their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Finally, Wells Fargo & Company increased 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus 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.