Quarry LP Buys Shares of 119 Trane Technologies plc (NYSE:TT)

Quarry LP bought a new stake in Trane Technologies plc (NYSE:TT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 119 shares of the company’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. GoalVest Advisory LLC boosted its stake in shares of Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Trane Technologies in the first quarter worth approximately $27,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Trane Technologies in the first quarter worth approximately $30,000. Fortitude Family Office LLC lifted its stake in shares of Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares during the period. Finally, Triad Wealth Partners LLC acquired a new position in shares of Trane Technologies in the second quarter worth approximately $39,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Barclays lifted their price objective on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday. Morgan Stanley started coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. Stephens reissued an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Finally, Royal Bank of Canada boosted their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average target price of $357.25.

Trane Technologies Trading Up 0.4 %

Shares of Trane Technologies stock opened at $388.36 on Friday. The stock has a fifty day simple moving average of $355.12 and a 200 day simple moving average of $332.61. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $391.94. The company has a market capitalization of $87.91 billion, a P/E ratio of 41.49, a price-to-earnings-growth ratio of 2.68 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter in the previous year, the firm earned $2.68 earnings per share. The business’s revenue was up 12.8% on a year-over-year basis. On average, sell-side analysts anticipate that Trane Technologies plc will post 10.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

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.