LGT Financial Advisors LLC Reduces Stock Position in Trane Technologies plc (NYSE:TT)

LGT Financial Advisors LLC cut its position in shares of Trane Technologies plc (NYSE:TT) by 75.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 170 shares of the company’s stock after selling 509 shares during the quarter. LGT Financial Advisors LLC’s holdings in Trane Technologies were worth $56,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. 9258 Wealth Management LLC increased its stake in shares of Trane Technologies by 3.9% during the 2nd quarter. 9258 Wealth Management LLC now owns 3,851 shares of the company’s stock valued at $1,267,000 after acquiring an additional 145 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its position in Trane Technologies by 15.6% during the second quarter. Kornitzer Capital Management Inc. KS now owns 4,625 shares of the company’s stock worth $1,521,000 after purchasing an additional 625 shares during the last quarter. Nottingham Advisors Inc. purchased a new position in Trane Technologies during the second quarter worth approximately $278,000. Meridian Wealth Advisors LLC boosted its holdings in shares of Trane Technologies by 3.9% in the 2nd quarter. Meridian Wealth Advisors LLC now owns 23,253 shares of the company’s stock valued at $7,648,000 after purchasing an additional 881 shares during the last quarter. Finally, FineMark National Bank & Trust increased its holdings in shares of Trane Technologies by 0.4% during the 2nd quarter. FineMark National Bank & Trust now owns 55,085 shares of the company’s stock worth $18,119,000 after buying an additional 234 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TT shares. Barclays increased their target price on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Robert W. Baird upped their target price on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. UBS Group lifted their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Stephens restated an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Finally, Royal Bank of Canada raised their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $336.93.

Trane Technologies Stock Performance

TT opened at $342.91 on Friday. 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 business’s 50 day moving average is $338.21 and its 200-day moving average is $319.22. The stock has a market cap of $77.62 billion, a PE ratio of 36.64, a price-to-earnings-growth ratio of 2.51 and a beta of 1.01. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $363.15.

Trane Technologies (NYSE:TT) last announced 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. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the prior year, the firm posted $2.68 EPS. Trane Technologies’s revenue was up 12.8% compared to the same quarter last year. On average, analysts predict that Trane Technologies plc will post 10.82 earnings per share for the current year.

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.