CCLA Investment Management Sells 39,390 Shares of Trane Technologies plc (NYSE:TT)

CCLA Investment Management reduced its stake in Trane Technologies plc (NYSE:TT - Free Report) by 13.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 254,881 shares of the company's stock after selling 39,390 shares during the period. CCLA Investment Management owned 0.11% of Trane Technologies worth $94,188,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TT. Parallel Advisors LLC increased its position in shares of Trane Technologies by 16.4% in the 2nd quarter. Parallel Advisors LLC now owns 2,468 shares of the company's stock valued at $812,000 after buying an additional 348 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Trane Technologies during the second quarter worth about $225,000. Envestnet Asset Management Inc. lifted its holdings in shares of Trane Technologies by 8.1% during the 2nd 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 in the last quarter. J.W. Cole Advisors Inc. grew its position in shares of Trane Technologies by 3.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 1,734 shares of the company's stock valued at $570,000 after purchasing an additional 54 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in shares of Trane Technologies in the 2nd quarter valued at approximately $593,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

TT stock traded up $2.79 during midday trading on Wednesday, reaching $385.50. 1,210,154 shares of the company were exchanged, compared to its average volume of 1,158,128. The firm has a market capitalization of $86.75 billion, a price-to-earnings ratio of 35.76, a price-to-earnings-growth 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. The business 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 one year low of $242.81 and a one year high of $422.00.

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. Equities research analysts forecast that Trane Technologies plc will post 11.13 EPS for the current year.

Insider Buying and Selling at Trane Technologies

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 shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares of the company's stock, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TT. Northcoast Research initiated coverage on Trane Technologies in a research report on Friday, November 22nd. They issued a "buy" rating and a $500.00 target price on the stock. Wells Fargo & Company lowered their price objective on shares of Trane Technologies from $390.00 to $380.00 and set an "underweight" rating on the stock in a report on Tuesday, January 7th. Mizuho increased their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Citigroup decreased their target price on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a research report on Monday. Finally, Barclays boosted their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target 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.