Trane Technologies plc (NYSE:TT) Shares Bought by First Hawaiian Bank

First Hawaiian Bank increased its stake in Trane Technologies plc (NYSE:TT) by 5.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 19,556 shares of the company’s stock after purchasing an additional 923 shares during the quarter. First Hawaiian Bank’s holdings in Trane Technologies were worth $7,223,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Tidal Investments LLC boosted its stake in shares of Trane Technologies by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after buying an additional 2,874 shares during the last quarter. Synovus Financial Corp raised its stake 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 valued at $3,431,000 after purchasing an additional 1,271 shares in the last quarter. Albar Capital Ltd acquired a new position in Trane Technologies in the second quarter worth about $14,556,000. GDS Wealth Management increased its holdings in Trane Technologies by 4.3% in the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after buying an additional 2,124 shares during the last quarter. Finally, King Wealth Management Group acquired a new stake in Trane Technologies during the third quarter valued at approximately $1,879,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Mairead Magner sold 4,329 shares of the 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TT shares. UBS Group initiated coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target on the stock. Mizuho boosted their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Citigroup lifted their target price on Trane Technologies from $457.00 to $478.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Robert W. Baird lowered their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, The Goldman Sachs Group raised their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $414.57.

Trane Technologies Price Performance

Shares of NYSE TT traded up $6.23 during mid-day trading on Wednesday, reaching $386.19. 973,005 shares of the company traded hands, compared to its average volume of 1,241,565. Trane Technologies plc has a fifty-two week low of $240.51 and a fifty-two week high of $422.00. 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 fifty day simple moving average of $396.08 and a 200-day simple moving average of $370.78. The firm has a market cap of $86.90 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 2.38 and a beta of 1.06.

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

Trane Technologies Profile

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.