Trane Technologies plc (NYSE:TT) Stock Position Increased by Neuberger Berman Group LLC

Neuberger Berman Group LLC lifted its stake in shares of Trane Technologies plc (NYSE:TTGet Rating) by 17.7% during the first quarter, Holdings Channel reports. The firm owned 368,819 shares of the company’s stock after purchasing an additional 55,573 shares during the quarter. Neuberger Berman Group LLC’s holdings in Trane Technologies were worth $56,331,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Exchange Traded Concepts LLC raised its position in shares of Trane Technologies by 14.8% during the first quarter. Exchange Traded Concepts LLC now owns 552 shares of the company’s stock worth $84,000 after purchasing an additional 71 shares during the period. KC Investment Advisors LLC raised its position in shares of Trane Technologies by 2.5% during the first quarter. KC Investment Advisors LLC now owns 3,342 shares of the company’s stock worth $510,000 after purchasing an additional 80 shares during the period. Trust Investment Advisors grew its holdings in shares of Trane Technologies by 1.1% during the first quarter. Trust Investment Advisors now owns 8,813 shares of the company’s stock valued at $1,346,000 after buying an additional 92 shares in the last quarter. Xponance Inc. grew its holdings in shares of Trane Technologies by 0.3% during the first quarter. Xponance Inc. now owns 27,959 shares of the company’s stock valued at $4,269,000 after buying an additional 94 shares in the last quarter. Finally, CX Institutional grew its holdings in shares of Trane Technologies by 3.8% during the first quarter. CX Institutional now owns 2,573 shares of the company’s stock valued at $393,000 after buying an additional 95 shares in the last quarter. 80.25% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

TT opened at $155.69 on Monday. The company has a market cap of $36.08 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 1.90 and a beta of 1.01. The stock has a 50-day moving average of $151.40 and a 200-day moving average of $144.83. Trane Technologies plc has a 52-week low of $120.64 and a 52-week high of $204.23. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.75 and a current ratio of 1.09.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TT shares. Jefferies Financial Group lowered their price target on Trane Technologies from $160.00 to $140.00 in a report on Friday, July 15th. Wells Fargo & Company lifted their price target on Trane Technologies from $123.00 to $133.00 and gave the company an “underweight” rating in a report on Thursday, August 4th. BMO Capital Markets lifted their price target on Trane Technologies from $155.00 to $180.00 and gave the company an “outperform” rating in a report on Monday, August 15th. Mizuho boosted their target price on Trane Technologies from $140.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, August 4th. Finally, Barclays boosted their target price on Trane Technologies from $160.00 to $166.00 and gave the company an “overweight” rating in a research note on Thursday, August 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $171.50.

About Trane Technologies

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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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