Trane Technologies plc $TT Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd lowered its position in shares of Trane Technologies plc (NYSE:TT) by 8.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 231,651 shares of the company’s stock after selling 21,299 shares during the quarter. AustralianSuper Pty Ltd owned about 0.10% of Trane Technologies worth $97,747,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Trane Technologies by 7.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,372 shares of the company’s stock worth $26,318,000 after acquiring an additional 4,344 shares in the last quarter. Ballentine Partners LLC lifted its holdings in shares of Trane Technologies by 6.6% during the 3rd quarter. Ballentine Partners LLC now owns 4,753 shares of the company’s stock valued at $2,006,000 after acquiring an additional 295 shares in the last quarter. Tobias Financial Advisors Inc. boosted its position in Trane Technologies by 16.4% during the 3rd quarter. Tobias Financial Advisors Inc. now owns 950 shares of the company’s stock worth $401,000 after purchasing an additional 134 shares during the period. Truist Financial Corp increased its holdings in Trane Technologies by 1.7% in the 3rd quarter. Truist Financial Corp now owns 392,953 shares of the company’s stock valued at $165,810,000 after purchasing an additional 6,430 shares in the last quarter. Finally, Little House Capital LLC raised its position in Trane Technologies by 1.3% in the third quarter. Little House Capital LLC now owns 2,062 shares of the company’s stock valued at $870,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TT shares. Barclays decreased their target price on Trane Technologies from $506.00 to $505.00 and set an “overweight” rating for the company in a research report on Wednesday, January 7th. JPMorgan Chase & Co. upped their price target on Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Morgan Stanley lowered their price objective on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a research report on Wednesday, January 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Trane Technologies has an average rating of “Moderate Buy” and a consensus target price of $479.73.

Trane Technologies Price Performance

TT opened at $394.37 on Thursday. The company has a market capitalization of $87.45 billion, a P/E ratio of 30.34, a PEG ratio of 1.96 and a beta of 1.21. The company has a 50-day moving average of $395.52 and a 200-day moving average of $415.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.20. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period last year, the firm earned $3.37 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.