Breakwater Capital Group Lowers Stock Position in Trane Technologies plc (NYSE:TT)

Breakwater Capital Group decreased its holdings in Trane Technologies plc (NYSE:TT) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,547 shares of the company’s stock after selling 115 shares during the quarter. Trane Technologies accounts for about 1.0% of Breakwater Capital Group’s holdings, making the stock its 21st biggest holding. Breakwater Capital Group’s holdings in Trane Technologies were worth $4,877,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC lifted its stake in Trane Technologies by 138.0% in 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 raised its holdings in Trane Technologies by 3.0% during the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock worth $135,796,000 after purchasing an additional 13,078 shares in the last quarter. Sei Investments Co. raised its holdings 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 purchasing an additional 242,271 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Trane Technologies during the fourth quarter worth approximately $3,086,000. Finally, Capital World Investors raised its holdings in Trane Technologies by 0.6% during the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after purchasing an additional 11,930 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.4 %

Shares of TT traded up $1.52 during mid-day trading on Friday, reaching $388.45. 595,803 shares of the stock traded hands, compared to its average volume of 1,106,457. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $391.94. 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 firm has a market cap of $87.93 billion, a price-to-earnings ratio of 41.50, a P/E/G ratio of 2.68 and a beta of 1.01. The stock has a fifty day simple moving average of $355.12 and a 200 day simple moving average of $332.35.

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. The firm 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%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.68 earnings per share. Sell-side analysts expect that Trane Technologies plc will post 10.87 EPS for the current fiscal year.

Insider Buying and Selling at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction dated 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 sale, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on TT. Royal Bank of Canada lifted their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Morgan Stanley initiated coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Barclays lifted their price objective on shares of Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Robert W. Baird lifted their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One 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, the company has a consensus rating of “Hold” and a consensus price target of $345.92.

About Trane Technologies

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.