International Assets Investment Management LLC Sells 1,640,826 Shares of Trane Technologies plc (NYSE:TT)

International Assets Investment Management LLC trimmed its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 99.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,311 shares of the company's stock after selling 1,640,826 shares during the quarter. International Assets Investment Management LLC's holdings in Trane Technologies were worth $1,611,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TT. Global Wealth Strategies & Associates bought a new position in shares of Trane Technologies during the fourth quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Trane Technologies in the third quarter worth approximately $27,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies during the 3rd quarter valued at about $36,000. Quarry LP purchased a new position in Trane Technologies during the second quarter valued at $39,000. Finally, Pittenger & Anderson Inc. bought a new position in Trane Technologies in the 3rd quarter worth $39,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Mizuho lifted their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research note on Friday, January 3rd. Wells Fargo & Company reduced their target price on shares of Trane Technologies from $390.00 to $380.00 and set an "underweight" rating for the company in a report on Tuesday. HSBC lowered Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price objective for the company. in a research note on Thursday, October 31st. Finally, UBS Group assumed coverage on Trane Technologies in a report on Wednesday, November 13th. They issued a "buy" rating and a $500.00 target price for the company. One equities research 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. According to data from MarketBeat, Trane Technologies presently has an average rating of "Hold" and a consensus price target of $414.57.

Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the company'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 completion of the sale, the senior vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.38% of the company's stock.

Trane Technologies Stock Up 1.6 %

Shares of TT stock traded up $6.23 during mid-day trading on Thursday, reaching $386.19. 1,029,079 shares of the company were exchanged, compared to its average volume of 1,242,476. Trane Technologies plc has a fifty-two week low of $240.51 and a fifty-two week high of $422.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The company has a market capitalization of $86.90 billion, a P/E ratio of 35.82, a P/E/G ratio of 2.38 and a beta of 1.06. The business's 50 day simple moving average is $396.61 and its 200 day simple moving average is $370.99.

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 for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the previous year, the business earned $2.79 EPS. The business's quarterly revenue was up 10.0% on a year-over-year basis. Research analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current year.

About Trane Technologies

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.