Barclays PLC Sells 267,075 Shares of Trane Technologies plc (NYSE:TT)

Barclays PLC cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 31.8% in the 3rd quarter, Holdings Channel reports. The firm owned 571,750 shares of the company’s stock after selling 267,075 shares during the period. Barclays PLC’s holdings in Trane Technologies were worth $222,254,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. FMR LLC increased its holdings in shares of Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after buying an additional 397,537 shares in the last quarter. State Street Corp increased its holdings in shares of Trane Technologies by 0.8% during the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock worth $3,797,565,000 after buying an additional 77,830 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after buying an additional 671,691 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Trane Technologies by 0.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock worth $832,691,000 after buying an additional 20,151 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after buying an additional 1,640,569 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TT. Barclays upped their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Northcoast Research started coverage on Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective for the company. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a report on Thursday, October 31st. Finally, The Goldman Sachs Group increased their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $414.57.

Trane Technologies Stock Performance

Shares of TT opened at $377.43 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $84.93 billion, a P/E ratio of 35.01, a price-to-earnings-growth ratio of 2.38 and a beta of 1.06. The firm’s fifty day simple moving average is $396.63 and its two-hundred day simple moving average is $371.52. Trane Technologies plc has a 12 month low of $242.49 and a 12 month high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.79 EPS. As a group, analysts predict that Trane Technologies plc will post 11.13 EPS for the current year.

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.