Bowman & Co S.C. Grows Stake in Trane Technologies plc (NYSE:TT)

Bowman & Co S.C. boosted its position in shares of Trane Technologies plc (NYSE:TT) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,311 shares of the company’s stock after acquiring an additional 277 shares during the quarter. Trane Technologies accounts for 1.4% of Bowman & Co S.C.’s portfolio, making the stock its 17th biggest holding. Bowman & Co S.C.’s holdings in Trane Technologies were worth $2,700,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies during the 3rd quarter worth $27,000. Global Wealth Strategies & Associates purchased a new position in Trane Technologies during the fourth quarter valued at $26,000. DT Investment Partners LLC purchased a new position in Trane Technologies during the third quarter valued at $36,000. Pittenger & Anderson Inc. purchased a new stake in Trane Technologies in the third quarter worth about $39,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Trane Technologies in the third quarter worth about $44,000. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

TT has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada upped their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. The Goldman Sachs Group raised their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Robert W. Baird dropped their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Citigroup lowered their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $420.64.

Insider Activity

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT opened at $389.48 on Friday. The company has a market cap of $87.64 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 1.95 and a beta of 1.06. Trane Technologies plc has a 1 year low of $244.11 and a 1 year high of $422.00. The stock’s 50 day simple moving average is $395.78 and its two-hundred day simple moving average is $373.17. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the business posted $2.79 earnings per share. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities analysts anticipate that Trane Technologies plc will post 11.13 earnings per share 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.