USA Financial Formulas Sells 606 Shares of Trane Technologies plc (NYSE:TT)

USA Financial Formulas lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 14.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,459 shares of the company’s stock after selling 606 shares during the quarter. Trane Technologies makes up about 0.2% of USA Financial Formulas’ portfolio, making the stock its 28th biggest position. USA Financial Formulas’ holdings in Trane Technologies were worth $1,278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Global Wealth Strategies & Associates acquired a new stake in shares of Trane Technologies in the 4th quarter worth $26,000. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies during the third quarter valued at $27,000. DT Investment Partners LLC acquired a new stake in Trane Technologies during the 3rd quarter worth about $36,000. Quarry LP purchased a new position in shares of Trane Technologies during the 2nd quarter valued at about $39,000. Finally, Pittenger & Anderson Inc. purchased a new stake in shares of Trane Technologies in the third quarter worth about $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

TT opened at $385.50 on Thursday. The firm has a market capitalization of $86.75 billion, a PE ratio of 35.76, a PEG ratio of 1.95 and a beta of 1.06. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a twelve month low of $242.81 and a twelve month high of $422.00. The firm’s 50-day moving average price is $396.47 and its 200 day moving average price is $372.50.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the business earned $2.79 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts expect that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. The Goldman Sachs Group upped their price objective on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Citigroup dropped their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday. Northcoast Research assumed coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective for the company. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lowered their price target on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $420.64.

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.