Eastern Bank Sells 42 Shares of Trane Technologies plc (NYSE:TT)

Eastern Bank lessened its position in Trane Technologies plc (NYSE:TT) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 602 shares of the company’s stock after selling 42 shares during the quarter. Eastern Bank’s holdings in Trane Technologies were worth $222,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after purchasing an additional 397,537 shares during the period. State Street Corp increased its holdings in shares of Trane Technologies by 0.8% during the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company’s stock worth $3,797,565,000 after purchasing an additional 77,830 shares during the period. Geode Capital Management LLC increased its holdings in shares of Trane Technologies by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock worth $1,797,700,000 after purchasing an additional 65,991 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after purchasing an additional 671,691 shares during the period. Finally, 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 3rd 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 purchasing an additional 20,151 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. UBS Group assumed coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. Citigroup lowered their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research note on Thursday, October 31st. Finally, Robert W. Baird lowered their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $414.43.

Trane Technologies Price Performance

NYSE:TT opened at $382.60 on Wednesday. The firm has a market cap of $86.09 billion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 2.38 and a beta of 1.06. Trane Technologies plc has a 12 month low of $242.81 and a 12 month high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $396.47 and its two-hundred day moving average price is $372.50.

Trane Technologies (NYSE:TT) last announced its earnings results 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. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the business earned $2.79 earnings per share. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities analysts anticipate that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

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.