Hennion & Walsh Asset Management Inc. Sells 3,503 Shares of Trane Technologies plc (NYSE:TT)

Hennion & Walsh Asset Management Inc. lowered its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 14.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,035 shares of the company's stock after selling 3,503 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Trane Technologies were worth $7,769,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Global Wealth Strategies & Associates bought a new stake in Trane Technologies during the 4th quarter worth $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Trane Technologies in the third quarter valued at approximately $27,000. DT Investment Partners LLC bought a new position in Trane Technologies in the 3rd quarter valued at approximately $36,000. Quarry LP acquired a new stake in Trane Technologies during the 2nd quarter worth approximately $39,000. Finally, Pittenger & Anderson Inc. bought a new stake in Trane Technologies during the 3rd quarter worth approximately $39,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TT shares. Royal Bank of Canada increased their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a report on Friday, January 3rd. The Goldman Sachs Group raised their price objective on Trane Technologies from $364.00 to $407.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Barclays upped their target price on Trane Technologies from $440.00 to $500.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Northcoast Research began coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a "buy" rating and a $500.00 price target on the stock. Finally, Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $420.64.

Trane Technologies Stock Up 0.9 %

Trane Technologies stock traded up $3.34 during mid-day trading on Thursday, reaching $388.89. The stock had a trading volume of 1,071,499 shares, compared to its average volume of 1,149,460. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies plc has a fifty-two week low of $242.81 and a fifty-two week high of $422.00. The stock's 50-day simple moving average is $396.35 and its 200-day simple moving average is $372.59. The firm has a market capitalization of $87.51 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm's revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.79 earnings per share. On average, sell-side analysts forecast that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Mairead Magner sold 4,329 shares of the firm's 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 transaction, the senior vice president now directly owns 12,893 shares of the company's stock, valued at $5,363,488. This trade 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 this link. Insiders own 0.38% of the company's stock.

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.