Murphy Middleton Hinkle & Parker Inc. Decreases Position in Trane Technologies plc (NYSE:TT)

Murphy Middleton Hinkle & Parker Inc. trimmed its holdings in Trane Technologies plc (NYSE:TT) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,089 shares of the company’s stock after selling 235 shares during the quarter. Murphy Middleton Hinkle & Parker Inc.’s holdings in Trane Technologies were worth $1,510,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TT. International Assets Investment Management LLC grew its holdings in shares of Trane Technologies by 35,914.4% during the third 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Trane Technologies by 35.8% in 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 purchasing an additional 671,691 shares during the period. 1832 Asset Management L.P. boosted its position 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 valued at $139,067,000 after purchasing an additional 417,120 shares during the period. FMR LLC grew its stake in Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after buying an additional 397,537 shares during the last quarter. Finally, Nordea Investment Management AB increased its position 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 buying an additional 293,916 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.2 %

Shares of TT stock opened at $389.48 on Friday. The business’s fifty day moving average price is $395.78 and its 200 day moving average price is $373.17. The firm has a market capitalization of $87.64 billion, a PE ratio of 36.13, a P/E/G ratio of 1.95 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a 1-year low of $244.11 and a 1-year high of $422.00.

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

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction on 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 completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on TT. Northcoast Research began coverage on Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective for the company. Wells Fargo & Company decreased their price target on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. decreased their target price on shares of Trane Technologies from $390.00 to $387.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, UBS Group started coverage on Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus 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.