Sterneck Capital Management LLC Makes New $251,000 Investment in Trane Technologies plc (NYSE:TT)

Sterneck Capital Management LLC bought a new stake in Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 645 shares of the company’s stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Swedbank AB purchased a new stake in Trane Technologies during the first quarter worth about $206,211,000. Putnam Investments LLC grew its position in shares of 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 acquiring an additional 570,679 shares during the period. 1832 Asset Management L.P. increased its stake in shares of 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 worth $139,067,000 after purchasing an additional 417,120 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Trane Technologies by 41.2% in the 1st quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock worth $318,402,000 after purchasing an additional 309,738 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in Trane Technologies by 162.7% in the second quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after purchasing an additional 277,274 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Down 0.2 %

Trane Technologies stock opened at $386.93 on Friday. The stock has a market cap of $87.58 billion, a P/E ratio of 41.34, a PEG ratio of 2.68 and a beta of 1.01. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $391.94. The firm’s fifty day moving average price is $353.95 and its 200-day moving average price is $331.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17.

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

Insider Buying and Selling 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 of the company’s stock, valued at approximately $42,708,902.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TT. Robert W. Baird boosted their target price 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 boosted their price objective on Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday. Wells Fargo & Company increased their target price on shares of Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. 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 target on the stock. Finally, Stephens reaffirmed an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. 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. According to data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average target price of $345.92.

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.