Park Avenue Securities LLC Increases Stock Position in Trane Technologies plc (NYSE:TT)

Park Avenue Securities LLC boosted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 17.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,891 shares of the company's stock after acquiring an additional 2,720 shares during the quarter. Park Avenue Securities LLC's holdings in Trane Technologies were worth $6,608,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TT. Global Wealth Strategies & Associates acquired a new position in shares of Trane Technologies in the fourth quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Trane Technologies in the third quarter valued at approximately $27,000. DT Investment Partners LLC acquired a new stake in Trane Technologies during the third quarter worth approximately $36,000. Quarry LP bought a new position in Trane Technologies during the 2nd quarter worth $39,000. Finally, Pittenger & Anderson Inc. bought a new stake in Trane Technologies during the third quarter worth about $39,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Trading Up 0.9 %

Shares of TT stock traded up $3.34 during mid-day trading on Thursday, hitting $388.89. The company's stock had a trading volume of 1,071,499 shares, compared to its average volume of 1,149,460. The company has a market cap of $87.51 billion, a PE ratio of 36.08, a P/E/G ratio of 1.95 and a beta of 1.06. 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's fifty day simple moving average is $396.35 and its 200-day simple moving average is $372.59. Trane Technologies plc has a 52 week low of $242.81 and a 52 week 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, beating the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company's revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.79 earnings per share. As a group, equities research analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares of the company's stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TT shares. JPMorgan Chase & Co. cut their target price on Trane Technologies from $390.00 to $387.00 and set a "neutral" rating for the company in a research note on Wednesday. Robert W. Baird dropped their target price on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. Citigroup cut their price target on Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a research note on Monday. Wells Fargo & Company lowered their price objective on Trane Technologies from $390.00 to $380.00 and set an "underweight" rating for the company in a research note on Tuesday, January 7th. Finally, Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Trane Technologies currently has an average rating of "Hold" and an average target price of $420.64.

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.