National Bank of Canada FI Sells 44,888 Shares of Trane Technologies plc (NYSE:TT)

National Bank of Canada FI reduced its stake in Trane Technologies plc (NYSE:TT) by 15.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 238,114 shares of the company’s stock after selling 44,888 shares during the quarter. National Bank of Canada FI’s holdings in Trane Technologies were worth $76,495,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GoalVest Advisory LLC lifted its holdings in shares of Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Trane Technologies in the first quarter valued at $27,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Trane Technologies during the first quarter valued at about $30,000. Sachetta LLC bought a new stake in shares of Trane Technologies during the fourth quarter worth about $27,000. Finally, Motco acquired a new stake in shares of Trane Technologies in the 4th quarter worth about $27,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TT shares. Robert W. Baird lifted their price target on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Barclays lifted their target price on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. UBS Group increased their price target on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $310.00 to $315.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Finally, Stephens reiterated an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and an average target price of $323.29.

Trane Technologies Trading Down 1.0 %

Shares of TT stock opened at $342.91 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The firm has a market cap of $77.62 billion, a P/E ratio of 36.64, a PEG ratio of 2.51 and a beta of 1.01. The company has a 50 day moving average of $338.21 and a 200-day moving average of $319.22. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $363.15.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.13 billion. During the same period last year, the business posted $2.68 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. Sell-side analysts anticipate that Trane Technologies plc will post 10.82 earnings per share for the current year.

Insider Buying and Selling

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

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.