Birchcreek Wealth Management LLC Invests $203,000 in Trane Technologies plc (NYSE:TT)

by · The Markets Daily

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Birchcreek Wealth Management LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT – Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,000 shares of the company’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Monte Financial Group LLC lifted its position in Trane Technologies by 45.4% in the second quarter. Monte Financial Group LLC now owns 4,596 shares of the company’s stock worth $879,000 after purchasing an additional 1,435 shares during the period. Illinois Municipal Retirement Fund lifted its position in Trane Technologies by 295.4% in the second quarter. Illinois Municipal Retirement Fund now owns 33,858 shares of the company’s stock worth $6,476,000 after purchasing an additional 25,296 shares during the period. Merit Financial Group LLC lifted its position in Trane Technologies by 2.4% in the second quarter. Merit Financial Group LLC now owns 3,325 shares of the company’s stock worth $636,000 after purchasing an additional 79 shares during the period. Sandy Spring Bank lifted its position in Trane Technologies by 6.8% in the second quarter. Sandy Spring Bank now owns 11,300 shares of the company’s stock worth $2,161,000 after purchasing an additional 724 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Trane Technologies in the third quarter worth approximately $1,691,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on TT. Wells Fargo & Company upped their target price on Trane Technologies from $200.00 to $246.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 19th. Royal Bank of Canada increased their price objective on Trane Technologies from $204.00 to $231.00 and gave the company a “sector perform” rating in a research report on Thursday, November 2nd. Barclays increased their price objective on Trane Technologies from $222.00 to $226.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. HSBC started coverage on Trane Technologies in a research report on Friday, September 15th. They set a “buy” rating and a $256.00 price objective for the company. Finally, Bank of America upgraded Trane Technologies from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $187.00 to $210.00 in a research report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $215.00.

Read Our Latest Analysis on Trane Technologies

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 17,585 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $220.00, for a total value of $3,868,700.00. Following the transaction, the chief executive officer now directly owns 93,081 shares of the company’s stock, valued at $20,477,820. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO David S. Regnery sold 17,585 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $220.00, for a total value of $3,868,700.00. Following the transaction, the chief executive officer now directly owns 93,081 shares of the company’s stock, valued at $20,477,820. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Raymond D. Pittard sold 13,144 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $218.24, for a total transaction of $2,868,546.56. Following the completion of the transaction, the executive vice president now directly owns 82,235 shares in the company, valued at $17,946,966.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,366 shares of company stock valued at $7,093,065. 0.39% of the stock is owned by insiders.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $240.63 on Wednesday. The company’s fifty day moving average is $226.72 and its two-hundred day moving average is $208.65. The company has a quick ratio of 0.87, a current ratio of 1.29 and a debt-to-equity ratio of 0.67. Trane Technologies plc has a 12-month low of $162.04 and a 12-month high of $245.27. The company has a market cap of $54.76 billion, a P/E ratio of 28.34, a price-to-earnings-growth ratio of 1.90 and a beta of 1.03.

Trane Technologies (NYSE:TT – Get Free Report) last announced its earnings results on Wednesday, November 1st. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.13. Trane Technologies had a net margin of 11.30% and a return on equity of 31.97%. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the previous year, the business earned $2.27 EPS. The company’s revenue was up 13.1% on a year-over-year basis. Equities analysts expect that Trane Technologies plc will post 9.01 earnings per share for the current fiscal year.

About Trane Technologies

(Free Report)

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.

Further Reading

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