Smith Group Asset Management LLC Boosts Stake in Trane Technologies plc (NYSE:TT)

Smith Group Asset Management LLC grew its stake in shares of Trane Technologies plc (NYSE:TT) by 235.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,580 shares of the company’s stock after buying an additional 1,810 shares during the period. Smith Group Asset Management LLC’s holdings in Trane Technologies were worth $953,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BOCHK Asset Management Ltd purchased a new stake in Trane Technologies in the 4th quarter worth approximately $443,000. R Squared Ltd acquired a new stake in shares of Trane Technologies during the fourth quarter worth $443,000. Foster Group Inc. grew its position in shares of Trane Technologies by 1.3% in the fourth quarter. Foster Group Inc. now owns 2,800 shares of the company’s stock valued at $1,034,000 after purchasing an additional 37 shares during the period. SteelPeak Wealth LLC increased its stake in Trane Technologies by 2.0% in the fourth quarter. SteelPeak Wealth LLC now owns 2,189 shares of the company’s stock valued at $809,000 after purchasing an additional 42 shares during the last quarter. Finally, BSW Wealth Partners lifted its position in Trane Technologies by 10.7% during the fourth quarter. BSW Wealth Partners now owns 702 shares of the company’s stock worth $259,000 after buying an additional 68 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Down 0.6 %

NYSE TT opened at $365.41 on Wednesday. The stock has a market cap of $82.23 billion, a PE ratio of 33.90, a P/E/G ratio of 2.16 and a beta of 1.06. The business has a 50 day moving average price of $392.55 and a two-hundred day moving average price of $376.35. Trane Technologies plc has a fifty-two week low of $250.77 and a fifty-two week high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the business earned $2.79 EPS. The business’s revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts predict that Trane Technologies plc will post 11.16 EPS for the current fiscal year.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. This represents a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TT. Citigroup dropped their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group upped their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Melius Research reissued a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday. Mizuho upped their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Barclays boosted their price target on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $417.81.

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.