Greenwood Capital Associates LLC Cuts Stake in Trane Technologies plc (NYSE:TT)

Greenwood Capital Associates LLC reduced its stake in Trane Technologies plc (NYSE:TT) by 4.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 15,576 shares of the company’s stock after selling 667 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Trane Technologies were worth $5,753,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Tidal Investments LLC increased its position in Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after purchasing an additional 2,874 shares during the last quarter. Synovus Financial Corp increased its holdings in shares of Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after buying an additional 1,271 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at about $468,000. HB Wealth Management LLC lifted its holdings in shares of Trane Technologies by 14.3% in the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after acquiring an additional 711 shares during the last quarter. Finally, GDS Wealth Management increased its stake in Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after acquiring an additional 2,124 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

TT opened at $360.16 on Tuesday. The company has a market cap of $81.04 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average price is $389.53 and its 200-day moving average price is $376.84. Trane Technologies plc has a 52-week low of $265.37 and a 52-week high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, equities analysts anticipate that Trane Technologies plc will post 12.79 EPS for the current fiscal year.

Analysts Set New Price Targets

TT has been the subject of several analyst reports. Citigroup lowered their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a research report on Thursday, October 31st. The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Northcoast Research began coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and a consensus target price of $415.25.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company 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.