Peak Financial Advisors LLC bought a new position in Trane Technologies plc (NYSE:TT – Free Report) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 8,151 shares of the company’s stock, valued at approximately $3,011,000. Trane Technologies accounts for approximately 1.6% of Peak Financial Advisors LLC’s holdings, making the stock its 21st biggest holding.
Other institutional investors and hedge funds have also modified their holdings of the company. Tidal Investments LLC lifted its position in Trane Technologies by 22.2% during the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after purchasing an additional 2,874 shares in the last quarter. Synovus Financial Corp increased its holdings in shares of Trane Technologies by 16.8% in the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after purchasing an additional 1,271 shares during the last quarter. Albar Capital Ltd bought a new stake in shares of Trane Technologies in the second quarter worth about $14,556,000. GDS Wealth Management increased its stake in Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after acquiring an additional 2,124 shares during the last quarter. Finally, King Wealth Management Group purchased a new stake in Trane Technologies during the third quarter valued at approximately $1,879,000. Institutional investors own 82.97% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the company. Barclays upped their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Northcoast Research assumed coverage on Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock. Royal Bank of Canada upped their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. The Goldman Sachs Group increased their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and an average price target of $414.43.
Insider Buying and Selling
In related news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.38% of the stock is currently owned by company insiders.
Trane Technologies Stock Up 1.5 %
Trane Technologies stock opened at $382.60 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The stock has a market capitalization of $86.09 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 2.38 and a beta of 1.06. Trane Technologies plc has a 1-year low of $242.81 and a 1-year high of $422.00. The business has a fifty day moving average price of $396.47 and a 200-day moving average price of $372.50.
Trane Technologies (NYSE:TT – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.79 EPS. Equities research analysts forecast that Trane Technologies plc will post 11.13 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.
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