Trane Technologies plc (NYSE:TT) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 16.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 571,898 shares of the company’s stock after selling 114,570 shares during the period. Royal London Asset Management Ltd. owned 0.25% of Trane Technologies worth $188,114,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GoalVest Advisory LLC lifted its position in Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Trane Technologies during the first quarter worth approximately $27,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Trane Technologies during the first quarter worth $30,000. Sachetta LLC purchased a new position in Trane Technologies in the 4th quarter valued at $27,000. Finally, Motco acquired a new position in Trane Technologies in the 4th quarter valued at $27,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TT. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a research note on Friday. UBS Group raised their price target on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Morgan Stanley initiated coverage on Trane Technologies in a report on Friday. They issued an “overweight” rating and a $425.00 target price for the company. Finally, Robert W. Baird upped their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $337.29.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction dated 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 approximately $42,708,902.50. The transaction was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares in the company, 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 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 transaction, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Stock Performance

Shares of TT opened at $345.30 on Tuesday. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $363.15. The stock has a market cap of $77.92 billion, a P/E ratio of 36.89, a PEG ratio of 2.38 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. The company has a 50-day moving average of $338.95 and a two-hundred day moving average of $320.77.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. Trane Technologies’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.68 EPS. As a group, research analysts predict that Trane Technologies plc will post 10.82 EPS for the current fiscal year.

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.