Bank of America Corp DE Has $479.54 Million Position in Trane Technologies plc (NYSE:TT)

Bank of America Corp DE lowered its stake in shares of Trane Technologies plc (NYSE:TTGet Rating) by 13.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,140,396 shares of the company’s stock after selling 481,467 shares during the period. Bank of America Corp DE’s holdings in Trane Technologies were worth $479,538,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Verition Fund Management LLC raised its position in shares of Trane Technologies by 45.3% during the first quarter. Verition Fund Management LLC now owns 5,434 shares of the company’s stock valued at $830,000 after buying an additional 1,695 shares during the last quarter. Ninety One UK Ltd raised its position in shares of Trane Technologies by 5.8% during the first quarter. Ninety One UK Ltd now owns 2,763,819 shares of the company’s stock valued at $422,035,000 after buying an additional 150,960 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Trane Technologies by 17.7% during the first quarter. Neuberger Berman Group LLC now owns 368,819 shares of the company’s stock valued at $56,331,000 after buying an additional 55,573 shares during the last quarter. Toroso Investments LLC raised its position in shares of Trane Technologies by 102.6% during the first quarter. Toroso Investments LLC now owns 7,610 shares of the company’s stock valued at $1,162,000 after buying an additional 3,854 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of Trane Technologies by 8.8% during the first quarter. Chicago Partners Investment Group LLC now owns 2,534 shares of the company’s stock valued at $330,000 after buying an additional 206 shares during the last quarter. Institutional investors and hedge funds own 80.25% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock opened at $155.69 on Monday. Trane Technologies plc has a 52-week low of $120.64 and a 52-week high of $204.23. The stock has a market cap of $36.08 billion, a PE ratio of 24.87, a PEG ratio of 1.90 and a beta of 1.01. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.75 and a current ratio of 1.09. The firm’s 50 day moving average price is $151.40 and its two-hundred day moving average price is $144.83.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Trane Technologies from $132.00 to $151.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. Mizuho increased their price target on shares of Trane Technologies from $140.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. Barclays increased their price target on shares of Trane Technologies from $160.00 to $166.00 and gave the stock an “overweight” rating in a research report on Thursday, August 4th. Citigroup increased their price target on shares of Trane Technologies from $160.00 to $177.00 in a research report on Thursday, August 4th. Finally, Cowen raised shares of Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 price target for the company in a research report on Friday, July 8th. One 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $171.50.

Trane Technologies Company Profile

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding TT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trane Technologies plc (NYSE:TTGet Rating).

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

Receive News & Ratings for Trane Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trane Technologies and related companies with MarketBeat.com's FREE daily email newsletter.