Wealth Enhancement Advisory Services LLC Increases Holdings in Trane Technologies plc (NYSE:TT)

Wealth Enhancement Advisory Services LLC raised its stake in Trane Technologies plc (NYSE:TT) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,837 shares of the company’s stock after buying an additional 745 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Trane Technologies were worth $23,260,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC increased its stake in Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after acquiring an additional 1,640,569 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after purchasing an additional 671,691 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in Trane Technologies by 7,363.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after buying an additional 417,120 shares during the period. FMR LLC boosted its stake in Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after buying an additional 397,537 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Trane Technologies by 42.9% during the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after buying an additional 293,916 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on TT. Northcoast Research started coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. Royal Bank of Canada boosted their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Barclays raised their target price on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Robert W. Baird cut their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Mizuho raised their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $414.57.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.38% of the stock is owned by company insiders.

Trane Technologies Stock Down 2.2 %

Shares of NYSE TT opened at $377.43 on Friday. Trane Technologies plc has a 1 year low of $242.49 and a 1 year high of $422.00. The company has a market capitalization of $84.93 billion, a price-to-earnings ratio of 35.01, a price-to-earnings-growth ratio of 2.38 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The business has a 50-day moving average of $396.63 and a two-hundred day moving average of $371.52.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the prior year, the company posted $2.79 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

About Trane Technologies

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.