Trane Technologies plc (NYSE:TT) Shares Sold by Breakwater Capital Group

Breakwater Capital Group lowered its position in Trane Technologies plc (NYSE:TT) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,401 shares of the company’s stock after selling 146 shares during the period. Trane Technologies comprises approximately 0.9% of Breakwater Capital Group’s holdings, making the stock its 25th largest position. Breakwater Capital Group’s holdings in Trane Technologies were worth $4,580,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its position in shares of Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after acquiring an additional 1,640,569 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Trane Technologies by 35.8% during the third 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. boosted its position in Trane Technologies by 7,363.1% during the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock worth $139,067,000 after purchasing an additional 417,120 shares in the last quarter. FMR LLC grew its holdings in Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after purchasing an additional 397,537 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Trane Technologies by 42.9% during the 4th 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 last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.1 %

TT opened at $376.88 on Tuesday. Trane Technologies plc has a 12 month low of $242.81 and a 12 month high of $422.00. The business has a 50-day moving average of $396.63 and a two-hundred day moving average of $372.12. 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 stock has a market capitalization of $84.81 billion, a price-to-earnings ratio of 34.96, a price-to-earnings-growth ratio of 2.38 and a beta of 1.06.

Trane Technologies (NYSE:TT) last released its 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. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. Trane Technologies’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.79 earnings per share. On average, research analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TT. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. UBS Group started coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective for the company. HSBC lowered 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. Robert W. Baird dropped their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company reduced their price objective on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. One 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $414.43.

Insider Transactions at Trane Technologies

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 shares were 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 directly 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.