Verition Fund Management LLC Acquires 1,695 Shares of Trane Technologies plc (NYSE:TT)

Verition Fund Management LLC grew its holdings in Trane Technologies plc (NYSE:TTGet Rating) by 45.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 5,434 shares of the company’s stock after buying an additional 1,695 shares during the quarter. Verition Fund Management LLC’s holdings in Trane Technologies were worth $830,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC grew its stake in Trane Technologies by 14.8% during the first quarter. Exchange Traded Concepts LLC now owns 552 shares of the company’s stock valued at $84,000 after acquiring an additional 71 shares in the last quarter. KC Investment Advisors LLC grew its stake in Trane Technologies by 2.5% during the first quarter. KC Investment Advisors LLC now owns 3,342 shares of the company’s stock valued at $510,000 after acquiring an additional 80 shares in the last quarter. Trust Investment Advisors grew its stake in 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 acquiring an additional 92 shares in the last quarter. Xponance Inc. grew its stake in 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 acquiring an additional 94 shares in the last quarter. Finally, CX Institutional grew its stake in 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 acquiring an additional 95 shares in the last quarter. Institutional investors own 80.25% of the company’s stock.

Trane Technologies Trading Down 1.8 %

Shares of TT opened at $151.93 on Thursday. The firm has a 50 day moving average price of $152.95 and a 200-day moving average price of $145.00. Trane Technologies plc has a fifty-two week low of $120.64 and a fifty-two 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. The firm has a market cap of $35.20 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.94 and a beta of 1.01.

Trane Technologies (NYSE:TTGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $2.16 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 company had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.11 billion. During the same period in the prior year, the business posted $1.92 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts forecast that Trane Technologies plc will post 7.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Trane Technologies from $162.00 to $146.00 and set a “hold” rating for the company in a research note on Wednesday, July 13th. Mizuho boosted their price target on shares of Trane Technologies from $140.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, August 4th. The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $132.00 to $151.00 and gave the stock a “neutral” rating in a research note on Thursday, August 4th. Morgan Stanley boosted their price target on shares of Trane Technologies from $166.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, September 1st. Finally, Wells Fargo & Company boosted their price target on shares of Trane Technologies from $123.00 to $133.00 and gave the stock an “underweight” rating in a research note on Thursday, August 4th. One investment 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 target price 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.

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

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