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

Barclays PLC lowered its stake in Trane Technologies plc (NYSE:TT - Free Report) by 31.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 571,750 shares of the company's stock after selling 267,075 shares during the period. Barclays PLC owned approximately 0.25% of Trane Technologies worth $222,254,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC increased its stake in shares of Trane Technologies by 35,914.4% in the 3rd 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 grew its position in Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company's stock valued at $991,460,000 after acquiring an additional 671,691 shares during the last quarter. 1832 Asset Management L.P. raised its stake 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 worth $139,067,000 after acquiring an additional 417,120 shares in the last quarter. FMR LLC lifted its holdings in shares of Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company's stock worth $4,018,563,000 after acquiring an additional 397,537 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Trane Technologies by 162.7% during the 2nd 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. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Trading Down 2.2 %

TT stock traded down $8.67 during midday trading on Friday, hitting $377.43. The stock had a trading volume of 985,117 shares, compared to its average volume of 1,208,219. 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 business has a fifty day moving average price of $396.63 and a two-hundred day moving average price of $371.81. Trane Technologies plc has a 1-year low of $242.49 and a 1-year high of $422.00. The firm has a market cap 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.

Trane Technologies (NYSE:TT - Get Free Report) last announced its 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. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.79 EPS. On average, sell-side analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TT shares. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Royal Bank of Canada boosted their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research report on Friday, January 3rd. Barclays increased their target price on Trane Technologies from $440.00 to $500.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Mizuho upped their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Finally, HSBC lowered shares of 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. One 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 company. According to MarketBeat, Trane Technologies has a consensus rating of "Hold" and a consensus price target of $414.57.

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.38% of the company's stock.

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.