Allspring Global Investments Holdings LLC Acquires 6,741 Shares of Trane Technologies plc (NYSE:TT)

Allspring Global Investments Holdings LLC increased its holdings in shares of Trane Technologies plc (NYSE:TTGet Rating) by 42.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,686 shares of the company’s stock after acquiring an additional 6,741 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Trane Technologies were worth $3,285,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of TT. Crewe Advisors LLC increased its position in Trane Technologies by 83.9% in the second quarter. Crewe Advisors LLC now owns 206 shares of the company’s stock worth $27,000 after buying an additional 94 shares during the last quarter. 1832 Asset Management L.P. purchased a new stake in Trane Technologies in the first quarter worth $34,000. Heritage Wealth Management LLC purchased a new stake in Trane Technologies in the second quarter worth $31,000. Bartlett & Co. LLC purchased a new stake in Trane Technologies in the second quarter worth $35,000. Finally, Gradient Investments LLC increased its position in Trane Technologies by 2,211.8% in the third quarter. Gradient Investments LLC now owns 393 shares of the company’s stock worth $57,000 after buying an additional 376 shares during the last quarter. 81.47% of the stock is currently owned by institutional investors.

Trane Technologies Stock Down 1.9 %

TT stock opened at $179.74 on Wednesday. Trane Technologies plc has a fifty-two week low of $120.64 and a fifty-two week high of $183.94. The business’s 50 day moving average price is $174.85 and its two-hundred day moving average price is $159.13. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.78 and a current ratio of 1.14. The company has a market capitalization of $41.40 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 2.13 and a beta of 1.02.

Trane Technologies (NYSE:TTGet Rating) last posted its earnings results on Wednesday, November 2nd. The company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.15. Trane Technologies had a return on equity of 27.32% and a net margin of 10.56%. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.16 billion. As a group, analysts forecast that Trane Technologies plc will post 7.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TT shares. The Goldman Sachs Group lifted their price target on Trane Technologies from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Thursday, November 3rd. Argus lifted their price target on Trane Technologies from $170.00 to $185.00 in a research note on Tuesday, November 8th. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $116.00 to $126.00 and gave the stock an “underweight” rating in a research note on Thursday, November 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on Trane Technologies from $151.00 to $155.00 and gave the stock a “hold” rating in a research note on Thursday, October 13th. Finally, Citigroup lifted their price target on Trane Technologies from $185.00 to $204.00 in a research note on Friday, December 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average price target of $175.00.

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 14,651 shares of the company’s stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $179.00, for a total transaction of $2,622,529.00. Following the transaction, the chief executive officer now owns 95,751 shares in the company, valued at approximately $17,139,429. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Raymond D. Pittard sold 23,003 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $170.42, for a total value of $3,920,171.26. Following the sale, the executive vice president now owns 87,718 shares in the company, valued at approximately $14,948,901.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David S. Regnery sold 14,651 shares of the company’s stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $179.00, for a total value of $2,622,529.00. Following the completion of the sale, the chief executive officer now owns 95,751 shares in the company, valued at approximately $17,139,429. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,654 shares of company stock worth $6,867,700. Company insiders own 0.74% of the company’s stock.

About Trane Technologies

(Get Rating)

Trane Technologies Plc is a global climate innovator, which engages in providing efficient and sustainable climate solutions to buildings, homes, and transportation. Its strategic brands include Trane and Thermo King. It operates through the following segments: Americas, EMEA, and Asia Pacific. The Americas segment encompasses commercial heating and cooling systems, building controls, and energy services and solutions; residential heating and cooling; and transport refrigeration systems and solutions in North America and Latin America regions.

Further Reading

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

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