Oppenheimer Asset Management Inc. Lowers Holdings in Trane Technologies plc (NYSE:TT)

Oppenheimer Asset Management Inc. reduced its position in shares of Trane Technologies plc (NYSE:TTGet Rating) by 10.5% during the 1st quarter, HoldingsChannel reports. The fund owned 1,713 shares of the company’s stock after selling 200 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Trane Technologies were worth $262,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. CX Institutional boosted its stake in shares of Trane Technologies by 3.8% during the 1st quarter. CX Institutional now owns 2,573 shares of the company’s stock worth $393,000 after acquiring an additional 95 shares in the last quarter. Peterson Wealth Services raised its position in shares of Trane Technologies by 21.5% during the 1st quarter. Peterson Wealth Services now owns 1,431 shares of the company’s stock worth $219,000 after purchasing an additional 253 shares during the last quarter. BOKF NA raised its position in shares of Trane Technologies by 1.1% during the 4th quarter. BOKF NA now owns 10,583 shares of the company’s stock worth $2,138,000 after purchasing an additional 118 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of Trane Technologies by 9.2% during the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,893 shares of the company’s stock worth $1,053,000 after purchasing an additional 579 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Trane Technologies by 2.8% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,345 shares of the company’s stock worth $4,939,000 after purchasing an additional 878 shares during the last quarter. 80.25% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Down 0.9 %

Shares of NYSE TT opened at $155.43 on Tuesday. The company has a 50 day simple moving average of $144.47 and a 200-day simple moving average of $144.37. The company has a market capitalization of $36.02 billion, a P/E ratio of 24.83, a P/E/G ratio of 1.90 and a beta of 1.01. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.09 and a quick ratio of 0.75. Trane Technologies plc has a 1 year low of $120.64 and a 1 year high of $204.23.

Trane Technologies (NYSE:TTGet Rating) last issued its earnings results on Wednesday, August 3rd. The company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.06. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.11 billion. Trane Technologies had a net margin of 10.06% and a return on equity of 25.03%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.92 earnings per share. On average, equities research analysts predict that Trane Technologies plc will post 7.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TT shares. Citigroup upped their price target on shares of Trane Technologies from $160.00 to $177.00 in a research report on Thursday, August 4th. Barclays upped their price target on shares of Trane Technologies from $160.00 to $166.00 and gave the stock an “overweight” rating in a research report on Thursday, August 4th. Morgan Stanley increased their price objective on shares of Trane Technologies from $166.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, September 1st. BMO Capital Markets increased their price objective on shares of Trane Technologies from $155.00 to $180.00 and gave the company an “outperform” rating in a report on Monday, August 15th. Finally, Jefferies Financial Group cut their price objective on shares of Trane Technologies from $160.00 to $140.00 in a report on Friday, July 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $171.50.

Trane Technologies Company Profile

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Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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