TradeLink Capital LLC Takes Position in Trane Technologies plc (NYSE:TT)

TradeLink Capital LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,900 shares of the company’s stock, valued at approximately $625,000. Trane Technologies accounts for 1.9% of TradeLink Capital LLC’s portfolio, making the stock its 11th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PFG Private Wealth Management LLC boosted its stake in Trane Technologies by 4.7% during the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after purchasing an additional 32 shares during the last quarter. Center for Financial Planning Inc. boosted its position in Trane Technologies by 1.7% during the first quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock worth $624,000 after acquiring an additional 34 shares during the last quarter. Bell Investment Advisors Inc grew its stake in Trane Technologies by 26.5% during the 2nd quarter. Bell Investment Advisors Inc now owns 167 shares of the company’s stock valued at $55,000 after acquiring an additional 35 shares in the last quarter. Muirfield Wealth Advisors LLC raised its holdings in Trane Technologies by 4.1% in the 2nd quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $309,000 after acquiring an additional 37 shares during the last quarter. Finally, Pure Financial Advisors LLC lifted its stake in Trane Technologies by 5.2% in the 2nd quarter. Pure Financial Advisors LLC now owns 765 shares of the company’s stock worth $252,000 after purchasing an additional 38 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays increased their price target on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Morgan Stanley initiated coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. UBS Group lifted their target price on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Wells Fargo & Company increased their price target on shares of Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Finally, Robert W. Baird lifted their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $337.29.

Trane Technologies Price Performance

Shares of NYSE TT opened at $359.67 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. The company has a market cap of $81.17 billion, a price-to-earnings ratio of 38.43, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01. The stock’s 50-day moving average is $340.41 and its two-hundred day moving average is $321.72. Trane Technologies plc has a 1-year low of $184.02 and a 1-year high of $363.15.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter last year, the company earned $2.68 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. Analysts forecast that Trane Technologies plc will post 10.87 EPS for the current fiscal year.

Trane Technologies Company 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.