AdvisorNet Financial Inc Buys 50 Shares of Trane Technologies plc (NYSE:TT)

AdvisorNet Financial Inc boosted its stake in Trane Technologies plc (NYSE:TT) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 769 shares of the company’s stock after purchasing an additional 50 shares during the period. AdvisorNet Financial Inc’s holdings in Trane Technologies were worth $284,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new position in shares of Trane Technologies in the 2nd quarter worth approximately $225,000. Dimensional Fund Advisors LP increased its holdings in Trane Technologies by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 735,569 shares of the company’s stock valued at $241,988,000 after buying an additional 45,026 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of Trane Technologies by 67.8% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 1,695 shares of the company’s stock worth $558,000 after acquiring an additional 685 shares during the last quarter. Mutual of America Capital Management LLC grew its position in shares of Trane Technologies by 4.0% during the 2nd quarter. Mutual of America Capital Management LLC now owns 37,283 shares of the company’s stock valued at $12,263,000 after acquiring an additional 1,450 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Trane Technologies by 4.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 42,537 shares of the company’s stock worth $13,233,000 after purchasing an additional 1,946 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $388.89 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $87.51 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 1.95 and a beta of 1.06. Trane Technologies plc has a 12 month low of $242.81 and a 12 month high of $422.00. The firm’s 50-day moving average is $396.35 and its 200 day moving average is $372.59.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the prior year, the business posted $2.79 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Research analysts predict that Trane Technologies plc will post 11.13 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating for the company in a report on Wednesday. Citigroup cut their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Wells Fargo & Company dropped their price target on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Finally, HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $420.64.

Insider Activity

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies 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 owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.38% of the company’s stock.

Trane Technologies Company 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.