Renaissance Investment Group LLC Has $9.40 Million Stake in Trane Technologies plc (NYSE:TT)

Renaissance Investment Group LLC increased its stake in Trane Technologies plc (NYSE:TT) by 7.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 25,461 shares of the company’s stock after purchasing an additional 1,801 shares during the quarter. Trane Technologies makes up 2.0% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 22nd largest holding. Renaissance Investment Group LLC’s holdings in Trane Technologies were worth $9,404,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trust Point Inc. increased its stake in shares of Trane Technologies by 3.1% in the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after purchasing an additional 27 shares during the period. Cobblestone Capital Advisors LLC NY grew its holdings in Trane Technologies by 1.8% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock valued at $579,000 after buying an additional 27 shares during the last quarter. First Pacific Financial increased its position in Trane Technologies by 1.1% in the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after buying an additional 28 shares during the period. Wescott Financial Advisory Group LLC lifted its holdings in shares of Trane Technologies by 1.7% during the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after buying an additional 28 shares during the last quarter. Finally, Greenleaf Trust boosted its position in shares of Trane Technologies by 0.5% in the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after acquiring an additional 29 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

TT stock opened at $389.48 on Friday. The company has a 50 day moving average price of $395.78 and a 200 day moving average price of $373.17. Trane Technologies plc has a fifty-two week low of $244.11 and a fifty-two week high of $422.00. 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 $87.64 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping 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 firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the company earned $2.79 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. Analysts forecast that Trane Technologies plc will post 11.13 EPS for the current year.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the company’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 value of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TT shares. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. Citigroup reduced their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Northcoast Research initiated coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $420.64.

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.