Hennion & Walsh Asset Management Inc. Cuts Stock Position in Trane Technologies plc (NYSE:TT)

Hennion & Walsh Asset Management Inc. trimmed its position in Trane Technologies plc (NYSE:TT) by 14.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,035 shares of the company’s stock after selling 3,503 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Trane Technologies were worth $7,769,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TT. International Assets Investment Management LLC boosted 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 worth $639,514,000 after purchasing an additional 1,640,569 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after acquiring an additional 671,691 shares during the period. 1832 Asset Management L.P. grew its holdings in shares of Trane Technologies by 7,363.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock worth $139,067,000 after acquiring an additional 417,120 shares during the period. FMR LLC increased its stake in Trane Technologies by 4.0% in the 3rd 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 in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Trane Technologies by 42.9% during the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after purchasing an additional 293,916 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In related news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares in the company, 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 can be accessed through this link. Insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Trane Technologies stock opened at $388.05 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The company has a market cap of $87.32 billion, a price-to-earnings ratio of 36.00, a PEG ratio of 1.95 and a beta of 1.06. Trane Technologies plc has a 1 year low of $242.81 and a 1 year high of $422.00. The firm has a 50 day moving average price of $396.47 and a 200 day moving average price of $372.50.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the business posted $2.79 EPS. Sell-side analysts predict that Trane Technologies plc will post 11.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TT. Mizuho raised their price target on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada raised their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Barclays upped their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. The Goldman Sachs Group raised their price objective 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. Finally, Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $420.64.

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.