AdvisorNet Financial Inc Boosts Stock Holdings in Trane Technologies plc (NYSE:TT)

AdvisorNet Financial Inc lifted its holdings in Trane Technologies plc (NYSE:TT) by 7.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 769 shares of the company’s stock after purchasing an additional 50 shares during the period. AdvisorNet Financial Inc’s holdings in Trane Technologies were worth $284,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. International Assets Investment Management LLC grew its stake in Trane Technologies by 35,914.4% in the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after purchasing an additional 1,640,569 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake 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 acquiring an additional 671,691 shares in the last quarter. 1832 Asset Management L.P. lifted its position in Trane Technologies by 7,363.1% during the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after acquiring an additional 417,120 shares during the last quarter. FMR LLC boosted its stake in Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after acquiring an additional 397,537 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after purchasing an additional 293,916 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TT. JPMorgan Chase & Co. lowered their price objective on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating for the company in a research report on Wednesday. Royal Bank of Canada lifted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a report on Thursday, October 31st. Northcoast Research started coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock. Finally, Citigroup reduced their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus target price of $420.64.

Trane Technologies Trading Up 0.9 %

Shares of NYSE:TT opened at $388.89 on Friday. The company has a market capitalization of $87.51 billion, a PE ratio of 36.08, a PEG ratio of 1.95 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 business has a 50 day moving average of $396.35 and a two-hundred day moving average of $372.59. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate 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 quarter last year, the business earned $2.79 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. As a group, analysts forecast that Trane Technologies plc will post 11.13 EPS for the current year.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction on 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 completion of the sale, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. The trade was 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 this hyperlink. 0.38% of the stock is currently owned by insiders.

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.