Arcadia Investment Management Corp MI trimmed its holdings in Trane Technologies plc (NYSE:TT – Get Rating) by 12.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,366 shares of the company's stock after selling 4,167 shares during the quarter. Arcadia Investment Management Corp MI's holdings in Trane Technologies were worth $3,944,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in TT. LPL Financial LLC raised its position in shares of Trane Technologies by 3.3% during the 4th quarter. LPL Financial LLC now owns 59,786 shares of the company's stock valued at $12,078,000 after buying an additional 1,920 shares during the period. Guggenheim Capital LLC raised its position in shares of Trane Technologies by 17.0% during the 4th quarter. Guggenheim Capital LLC now owns 11,488 shares of the company's stock valued at $2,321,000 after buying an additional 1,666 shares during the period. Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of Trane Technologies during the 4th quarter valued at approximately $533,000. D. E. Shaw & Co. Inc. raised its position in shares of Trane Technologies by 176.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 70,108 shares of the company's stock valued at $14,164,000 after buying an additional 44,706 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Trane Technologies by 325.7% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 247,147 shares of the company's stock valued at $49,632,000 after buying an additional 189,087 shares during the period. Hedge funds and other institutional investors own 80.25% of the company's stock.
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Wall Street Analyst Weigh In
Several analysts have recently commented on TT shares. Mizuho lifted their price target on shares of Trane Technologies from $140.00 to $150.00 and gave the company a "neutral" rating in a research report on Thursday, August 4th. Cowen upgraded shares of Trane Technologies from a "market perform" rating to an "outperform" rating and set a $180.00 target price for the company in a report on Friday, July 8th. The Goldman Sachs Group lifted their target price on shares of Trane Technologies from $132.00 to $151.00 and gave the company a "neutral" rating in a report on Thursday, August 4th. Jefferies Financial Group dropped their target price on shares of Trane Technologies from $160.00 to $140.00 in a report on Friday, July 15th. Finally, Barclays lifted their target price on shares of Trane Technologies from $160.00 to $166.00 and gave the company an "overweight" rating in a report on Thursday, August 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $171.50.
Trane Technologies Stock Performance
Shares of TT stock opened at $144.81 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average price of $154.94 and a 200 day moving average price of $144.91. The company has a market cap of $33.56 billion, a P/E ratio of 23.13, a PEG ratio of 1.78 and a beta of 1.01. Trane Technologies plc has a 12 month low of $120.64 and a 12 month high of $204.23.
Trane Technologies (NYSE:TT – Get Rating) last issued its earnings results on Wednesday, August 3rd. The company reported $2.16 EPS for the quarter, topping analysts' consensus estimates of $2.10 by $0.06. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.11 billion. Trane Technologies had a net margin of 10.06% and a return on equity of 25.03%. The company's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.92 earnings per share. Sell-side analysts predict that Trane Technologies plc will post 7.1 earnings per share for the current fiscal year.
Trane Technologies Company Profile
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Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.
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