J.W. Cole Advisors Inc. cut its holdings in Trane Technologies plc (NYSE:TT – Get Rating) by 6.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,773 shares of the company’s stock after selling 115 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Trane Technologies were worth $271,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in TT. JPMorgan Chase & Co. raised its position in shares of Trane Technologies by 12.3% in the first quarter. JPMorgan Chase & Co. now owns 19,753,665 shares of the company’s stock valued at $3,016,386,000 after purchasing an additional 2,159,166 shares during the period. Vanguard Group Inc. raised its position in shares of Trane Technologies by 0.4% in the first quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock valued at $2,769,040,000 after purchasing an additional 77,924 shares during the period. State Street Corp raised its position in shares of Trane Technologies by 3.4% in the fourth quarter. State Street Corp now owns 10,764,373 shares of the company’s stock valued at $2,174,726,000 after purchasing an additional 351,926 shares during the period. Norges Bank bought a new position in shares of Trane Technologies in the fourth quarter valued at approximately $578,209,000. Finally, Ninety One UK Ltd raised its position in shares of Trane Technologies by 5.8% in the first quarter. Ninety One UK Ltd now owns 2,763,819 shares of the company’s stock valued at $422,035,000 after purchasing an additional 150,960 shares during the period. 80.25% of the stock is currently owned by institutional investors and hedge funds.
Trane Technologies Stock Down 2.8 %
Shares of NYSE TT opened at $154.74 on Wednesday. The firm’s 50-day simple moving average is $152.46 and its 200 day simple moving average is $144.96. The company has a market cap of $35.86 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 1.90 and a beta of 1.01. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 0.66. Trane Technologies plc has a 12-month low of $120.64 and a 12-month high of $204.23.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the stock. Wells Fargo & Company boosted 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. The Goldman Sachs Group boosted their target price 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. Cowen raised shares of Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 target price on the stock in a research report on Friday, July 8th. Mizuho boosted their target price 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. Finally, Citigroup boosted their price target on shares of Trane Technologies from $160.00 to $177.00 in a report on Thursday, August 4th. 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’s stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $171.50.
Trane Technologies Profile
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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