Moody National Bank Trust Division Makes New Investment in Trane Technologies plc (NYSE:TT)

Moody National Bank Trust Division bought a new position in Trane Technologies plc (NYSE:TTGet Rating) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,227 shares of the company’s stock, valued at approximately $289,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TT. Hilltop Holdings Inc. raised its holdings in shares of Trane Technologies by 5.7% during the 4th quarter. Hilltop Holdings Inc. now owns 3,741 shares of the company’s stock valued at $756,000 after purchasing an additional 201 shares in the last quarter. Clark Capital Management Group Inc. bought a new position in shares of Trane Technologies during the 4th quarter valued at $266,000. Fiduciary Trust Co. raised its holdings in shares of Trane Technologies by 9.8% during the 4th quarter. Fiduciary Trust Co. now owns 5,901 shares of the company’s stock valued at $1,192,000 after purchasing an additional 525 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Trane Technologies by 0.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 135,078 shares of the company’s stock valued at $27,290,000 after purchasing an additional 1,010 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Trane Technologies during the 4th quarter valued at $501,000. Hedge funds and other institutional investors own 80.25% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $154.74 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.09 and a quick ratio of 0.75. The firm has a market capitalization of $35.86 billion, a price-to-earnings ratio of 24.72, a P/E/G ratio of 1.90 and a beta of 1.01. The company’s fifty day moving average is $152.46 and its two-hundred day moving average is $144.96. Trane Technologies plc has a 52-week low of $120.64 and a 52-week high of $204.23.

Trane Technologies (NYSE:TTGet Rating) last posted 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 for the quarter, compared to analyst estimates of $4.11 billion. Trane Technologies had a net margin of 10.06% and a return on equity of 25.03%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $1.92 EPS. Equities research analysts forecast that Trane Technologies plc will post 7.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TT shares. Cowen upgraded shares of Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a report on Friday, July 8th. Jefferies Financial Group cut their price target on shares of Trane Technologies from $160.00 to $140.00 in a report on Friday, July 15th. Credit Suisse Group lifted their target price on shares of Trane Technologies from $165.00 to $169.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. The Goldman Sachs Group lifted their target price on shares of Trane Technologies from $132.00 to $151.00 and gave the stock a “neutral” rating in a report on Thursday, August 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Trane Technologies from $162.00 to $146.00 and set a “hold” rating on the stock in a report on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $171.50.

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.

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

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