Trane Technologies plc (NYSE:TT) Position Boosted by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC raised its holdings in shares of Trane Technologies plc (NYSE:TT) by 90.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,199 shares of the company’s stock after acquiring an additional 569 shares during the period. Douglas Lane & Associates LLC’s holdings in Trane Technologies were worth $443,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies during the third quarter valued at about $27,000. Global Wealth Strategies & Associates acquired a new position in Trane Technologies during the 4th quarter valued at about $26,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies during the 3rd quarter worth about $36,000. Pittenger & Anderson Inc. acquired a new stake in shares of Trane Technologies in the 3rd quarter worth approximately $39,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Trane Technologies in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Up 1.6 %

Shares of NYSE:TT opened at $386.19 on Thursday. The firm has a 50 day simple moving average of $396.29 and a 200 day simple moving average of $370.89. Trane Technologies plc has a 52 week low of $240.51 and a 52 week high of $422.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The company has a market cap of $86.90 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 2.38 and a beta of 1.06.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.79 EPS. As a group, research analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank of Canada boosted their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Citigroup upped their price objective on Trane Technologies from $457.00 to $478.00 and gave the company a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company lowered their target price on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a report on Tuesday. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Northcoast Research assumed coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus target price of $414.57.

Trane Technologies Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.