HB Wealth Management LLC increased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 14.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,689 shares of the company's stock after purchasing an additional 711 shares during the quarter. HB Wealth Management LLC's holdings in Trane Technologies were worth $2,101,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of TT. Global Wealth Strategies & Associates acquired a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Trane Technologies during the third quarter worth $27,000. DT Investment Partners LLC acquired a new stake in shares of Trane Technologies during the 3rd quarter valued at $36,000. Quarry LP acquired a new position in Trane Technologies in the 2nd quarter worth about $39,000. Finally, Pittenger & Anderson Inc. acquired a new stake in shares of Trane Technologies during the third quarter valued at about $39,000. 82.97% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on TT. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their price target on Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Citigroup dropped their price objective on Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. UBS Group assumed coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They set a "buy" rating and a $500.00 price target on the stock. Finally, Robert W. Baird reduced their target price on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $420.64.
View Our Latest Research Report on TT
Insider Buying and Selling at Trane Technologies
In other news, SVP Mairead Magner sold 4,329 shares of the firm'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 value of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This trade 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 hyperlink. Company insiders own 0.38% of the company's stock.
Trane Technologies Price Performance
Shares of TT traded up $0.62 during midday trading on Monday, hitting $389.48. 2,045,385 shares of the company traded hands, compared to its average volume of 955,176. The stock has a 50-day moving average of $395.78 and a 200-day moving average of $373.81. The firm has a market cap of $87.64 billion, a P/E ratio of 36.13, a PEG ratio of 1.95 and a beta of 1.06. Trane Technologies plc has a one year low of $244.11 and a one year high of $422.00. 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 announced its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping analysts' consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business 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 company earned $2.79 EPS. The company's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts predict that Trane Technologies plc will post 11.13 EPS for the current fiscal year.
Trane Technologies Company Profile
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Free Report)
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.
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