Board of the Pension Protection Fund Invests $813,000 in Trane Technologies plc (NYSE:TT)

Board of the Pension Protection Fund purchased a new stake in Trane Technologies plc (NYSE:TT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,200 shares of the company's stock, valued at approximately $813,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC grew its holdings in shares of Trane Technologies by 16.4% during the second quarter. Parallel Advisors LLC now owns 2,468 shares of the company's stock worth $812,000 after buying an additional 348 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Trane Technologies during the 2nd quarter worth approximately $225,000. Envestnet Asset Management Inc. raised its holdings in shares of Trane Technologies by 8.1% in the second quarter. Envestnet Asset Management Inc. now owns 312,629 shares of the company's stock valued at $102,833,000 after purchasing an additional 23,376 shares during the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of Trane Technologies by 3.2% in the second quarter. J.W. Cole Advisors Inc. now owns 1,734 shares of the company's stock worth $570,000 after purchasing an additional 54 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in Trane Technologies in the second quarter valued at $593,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Buying and Selling

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

Trane Technologies Stock Performance

Trane Technologies stock traded up $2.79 during midday trading on Wednesday, hitting $385.50. The company's stock had a trading volume of 1,210,154 shares, compared to its average volume of 1,158,128. The company has a 50-day moving average price of $396.47 and a two-hundred day moving average price of $372.50. Trane Technologies plc has a 1-year low of $242.81 and a 1-year high of $422.00. The company has a market cap of $86.75 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 2.38 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly 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. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.79 earnings per share. As a group, sell-side analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TT shares. JPMorgan Chase & Co. decreased their target price on shares of Trane Technologies from $390.00 to $387.00 and set a "neutral" rating for the company in a research note on Wednesday. Royal Bank of Canada lifted their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research report on Friday, January 3rd. 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 report on Thursday, October 31st. Barclays lifted their price target on Trane Technologies from $440.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group upped their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a research note 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's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $420.64.

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.