Renaissance Investment Group LLC Buys 1,801 Shares of Trane Technologies plc (NYSE:TT)

Renaissance Investment Group LLC lifted its position in Trane Technologies plc (NYSE:TT - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,461 shares of the company's stock after acquiring an additional 1,801 shares during the period. Trane Technologies comprises approximately 2.0% of Renaissance Investment Group LLC's holdings, making the stock its 22nd largest position. Renaissance Investment Group LLC's holdings in Trane Technologies were worth $9,404,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. My Legacy Advisors LLC boosted its position in Trane Technologies by 1.1% during the 4th quarter. My Legacy Advisors LLC now owns 5,130 shares of the company's stock worth $1,978,000 after acquiring an additional 56 shares during the period. Clarius Group LLC lifted its position in shares of Trane Technologies by 12.5% in the fourth quarter. Clarius Group LLC now owns 1,324 shares of the company's stock worth $489,000 after purchasing an additional 147 shares in the last quarter. Aaron Wealth Advisors LLC boosted its holdings in shares of Trane Technologies by 6.5% during the fourth quarter. Aaron Wealth Advisors LLC now owns 1,223 shares of the company's stock worth $452,000 after purchasing an additional 75 shares during the period. Bowman & Co S.C. grew its holdings in shares of Trane Technologies by 3.9% during the 4th quarter. Bowman & Co S.C. now owns 7,311 shares of the company's stock valued at $2,700,000 after acquiring an additional 277 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Trane Technologies during the fourth quarter worth $468,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Performance

Shares of NYSE:TT traded up $0.62 during trading on Monday, hitting $389.48. 2,045,385 shares of the stock were exchanged, compared to its average volume of 955,176. The company has a market capitalization of $87.64 billion, a price-to-earnings ratio of 36.13, a price-to-earnings-growth 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. Trane Technologies plc has a 1-year low of $244.11 and a 1-year high of $422.00. The company's fifty day simple moving average is $395.78 and its 200-day simple moving average is $373.81.

Trane Technologies (NYSE:TT - Get Free Report) last announced 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 net margin of 12.73% and a return on equity of 34.62%. The business's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.79 EPS. Sell-side analysts expect that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Mairead Magner sold 4,329 shares of the business's stock in a transaction 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 sale, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

TT has been the subject of several analyst reports. Barclays lifted their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Citigroup decreased their price target on Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Robert W. Baird cut their price objective on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company decreased their target price on Trane Technologies from $390.00 to $380.00 and set an "underweight" rating for the company in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. One 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. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target 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.