State of Alaska Department of Revenue Cuts Stock Position in Trane Technologies plc (NYSE:TT)

State of Alaska Department of Revenue lowered its stake in Trane Technologies plc (NYSE:TTGet Rating) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 57,158 shares of the company’s stock after selling 1,550 shares during the period. State of Alaska Department of Revenue’s holdings in Trane Technologies were worth $7,422,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its stake in Trane Technologies by 14.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 552 shares of the company’s stock valued at $84,000 after purchasing an additional 71 shares during the last quarter. KC Investment Advisors LLC boosted its stake in shares of Trane Technologies by 2.5% in the 1st quarter. KC Investment Advisors LLC now owns 3,342 shares of the company’s stock worth $510,000 after buying an additional 80 shares during the last quarter. Trust Investment Advisors boosted its stake in shares of Trane Technologies by 1.1% in the 1st quarter. Trust Investment Advisors now owns 8,813 shares of the company’s stock worth $1,346,000 after buying an additional 92 shares during the last quarter. Xponance Inc. boosted its stake in shares of Trane Technologies by 0.3% in the 1st quarter. Xponance Inc. now owns 27,959 shares of the company’s stock worth $4,269,000 after buying an additional 94 shares during the last quarter. Finally, CX Institutional boosted its stake in shares of Trane Technologies by 3.8% in the 1st quarter. CX Institutional now owns 2,573 shares of the company’s stock worth $393,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 80.25% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $159.12 on Tuesday. The company has a market capitalization of $36.87 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 1.90 and a beta of 1.01. Trane Technologies plc has a 52 week low of $120.64 and a 52 week high of $204.23. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average of $151.97 and a 200 day moving average of $144.89.

Trane Technologies (NYSE:TTGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.06. The business had revenue of $4.19 billion for 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 business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.92 earnings per share. On average, sell-side analysts predict that Trane Technologies plc will post 7.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TT. Mizuho raised their price target on Trane Technologies from $140.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, August 4th. Barclays raised their target price on Trane Technologies from $160.00 to $166.00 and gave the stock an “overweight” rating in a report on Thursday, August 4th. Cowen raised Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 target price on the stock in a report on Friday, July 8th. Cowen raised Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 target price on the stock in a report on Friday, July 8th. Finally, BMO Capital Markets raised their target price on Trane Technologies from $155.00 to $180.00 and gave the stock an “outperform” rating in a report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.

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

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