Trane Technologies plc (NYSE:TT) Stock Position Raised by Private Advisor Group LLC

Private Advisor Group LLC boosted its stake in shares of Trane Technologies plc (NYSE:TTGet Rating) by 10.5% in the first quarter, HoldingsChannel reports. The firm owned 7,037 shares of the company’s stock after purchasing an additional 666 shares during the quarter. Private Advisor Group LLC’s holdings in Trane Technologies were worth $1,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. abrdn plc boosted its position in Trane Technologies by 17.1% during the 4th quarter. abrdn plc now owns 407,123 shares of the company’s stock worth $82,249,000 after acquiring an additional 59,577 shares during the period. HighTower Advisors LLC increased its holdings in shares of Trane Technologies by 41.9% in the fourth quarter. HighTower Advisors LLC now owns 36,075 shares of the company’s stock valued at $7,273,000 after buying an additional 10,654 shares in the last quarter. Financial Counselors Inc. lifted its holdings in shares of Trane Technologies by 7.7% during the fourth quarter. Financial Counselors Inc. now owns 2,936 shares of the company’s stock valued at $593,000 after purchasing an additional 209 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Trane Technologies by 22.7% during the 4th quarter. Teacher Retirement System of Texas now owns 73,890 shares of the company’s stock worth $14,928,000 after buying an additional 13,655 shares during the period. Finally, OPSEU Pension Plan Trust Fund lifted its stake in Trane Technologies by 9.8% during the fourth quarter. OPSEU Pension Plan Trust Fund now owns 8,299 shares of the company’s stock valued at $1,613,000 after buying an additional 743 shares in the last quarter. 80.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TT has been the subject of several research analyst reports. Barclays upped their price target on shares of Trane Technologies from $160.00 to $166.00 and gave the company an “overweight” rating in a research report on Thursday, August 4th. Wells Fargo & Company increased their target price on shares of Trane Technologies from $123.00 to $133.00 and gave the stock an “underweight” rating in a research report on Thursday, August 4th. Morgan Stanley increased their price objective on Trane Technologies from $166.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, September 1st. Citigroup boosted their target price on Trane Technologies from $160.00 to $177.00 in a research note on Thursday, August 4th. Finally, Jefferies Financial Group decreased their price target on Trane Technologies from $160.00 to $140.00 in a research note on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus target price of $171.50.

Trane Technologies Stock Performance

Trane Technologies stock opened at $156.52 on Wednesday. The company has a market capitalization of $36.27 billion, a P/E ratio of 24.53, a P/E/G ratio of 1.90 and a beta of 1.01. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.09 and a quick ratio of 0.75. Trane Technologies plc has a 1 year low of $120.64 and a 1 year high of $204.23. The business has a 50 day moving average of $144.47 and a 200-day moving average of $144.37.

Trane Technologies (NYSE:TTGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.10 by $0.06. Trane Technologies had a net margin of 10.06% and a return on equity of 25.03%. The company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter last year, the firm posted $1.92 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities research analysts predict that Trane Technologies plc will post 7.1 earnings per share for the current year.

Trane Technologies Profile

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Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

Further Reading

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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