ProShare Advisors LLC Has $7.80 Million Stake in Trane Technologies plc (NYSE:TT)

ProShare Advisors LLC boosted its stake in Trane Technologies plc (NYSE:TT) by 48.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,397 shares of the company’s stock after purchasing an additional 13,849 shares during the period. ProShare Advisors LLC’s holdings in Trane Technologies were worth $7,800,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Delta Asset Management LLC TN bought a new stake in Trane Technologies during the fourth quarter valued at $27,000. Live Oak Investment Partners bought a new stake in Trane Technologies during the fourth quarter valued at $30,000. WealthPLAN Partners LLC bought a new stake in Trane Technologies during the first quarter valued at $33,000. 1832 Asset Management L.P. bought a new stake in Trane Technologies during the first quarter valued at $34,000. Finally, Ruedi Wealth Management Inc. bought a new stake in Trane Technologies during the fourth quarter valued at $37,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on TT. HSBC started coverage on shares of Trane Technologies in a research report on Friday. They set a “buy” rating and a $256.00 price target on the stock. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $194.00 to $204.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 3rd. Morgan Stanley increased their price objective on shares of Trane Technologies from $210.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, August 3rd. Wells Fargo & Company increased their price objective on shares of Trane Technologies from $172.00 to $181.00 in a research report on Monday, July 10th. Finally, Mizuho increased their price objective on shares of Trane Technologies from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $198.41.

Trane Technologies Price Performance

Shares of NYSE TT opened at $202.49 on Monday. Trane Technologies plc has a twelve month low of $139.07 and a twelve month high of $211.58. The stock’s 50 day moving average price is $201.08 and its 200-day moving average price is $187.35. The company has a market capitalization of $46.25 billion, a PE ratio of 24.97, a PEG ratio of 1.82 and a beta of 1.01. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.71.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, August 2nd. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.12. Trane Technologies had a return on equity of 31.22% and a net margin of 11.18%. The firm had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter in the previous year, the business earned $2.16 EPS. The company’s revenue was up 12.3% compared to the same quarter last year. On average, equities analysts anticipate that Trane Technologies plc will post 8.86 EPS for the current year.

Insider Buying and Selling

In related news, EVP Paul A. Camuti sold 5,000 shares of Trane Technologies stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $196.00, for a total value of $980,000.00. Following the sale, the executive vice president now owns 89,409 shares of the company’s stock, valued at approximately $17,524,164. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trane Technologies news, EVP Paul A. Camuti sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $196.00, for a total transaction of $980,000.00. Following the sale, the executive vice president now owns 89,409 shares of the company’s stock, valued at approximately $17,524,164. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Evan M. Turtz sold 6,108 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $205.21, for a total transaction of $1,253,422.68. Following the sale, the senior vice president now directly owns 19,666 shares in the company, valued at approximately $4,035,659.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,374 shares of company stock valued at $4,080,669. 0.39% of the stock is owned by company insiders.

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.