Sandy Spring Bank lifted its stake in Trane Technologies plc (NYSE:TT – Get Rating) by 5.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,630 shares of the company's stock after buying an additional 571 shares during the period. Sandy Spring Bank's holdings in Trane Technologies were worth $1,380,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of TT. LPL Financial LLC grew its position in Trane Technologies by 3.3% during the 4th quarter. LPL Financial LLC now owns 59,786 shares of the company's stock worth $12,078,000 after purchasing an additional 1,920 shares during the last quarter. Guggenheim Capital LLC grew its position in Trane Technologies by 17.0% during the 4th quarter. Guggenheim Capital LLC now owns 11,488 shares of the company's stock worth $2,321,000 after purchasing an additional 1,666 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in Trane Technologies by 176.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 70,108 shares of the company's stock worth $14,164,000 after purchasing an additional 44,706 shares during the last quarter. Cetera Investment Advisers grew its position in Trane Technologies by 2.2% during the 4th quarter. Cetera Investment Advisers now owns 6,737 shares of the company's stock worth $1,361,000 after purchasing an additional 143 shares during the last quarter. Finally, Capital World Investors purchased a new position in Trane Technologies during the 4th quarter worth $340,147,000. 80.25% of the stock is owned by hedge funds and other institutional investors.
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Trane Technologies Stock Performance
Shares of TT opened at $144.81 on Monday. 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 stock has a market cap of $33.55 billion, a P/E ratio of 23.13, a PEG ratio of 1.77 and a beta of 1.19. The company has a 50-day moving average of $154.94 and a two-hundred day moving average of $144.74. 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 announced its earnings results on Wednesday, August 3rd. The company reported $2.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.10 by $0.06. The company had revenue of $4.19 billion during the quarter, compared to analysts' expectations of $4.11 billion. Trane Technologies had a net
margin of 10.06% and a return on equity of 25.03%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.92 earnings per share. As a group, research analysts predict that Trane Technologies plc will post 7.1 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on TT shares. 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. Credit Suisse Group lifted their target price on shares of Trane Technologies from $165.00 to $169.00 and gave the company an "outperform" rating in a report on Thursday, August 4th. Cowen raised shares of Trane Technologies from a "market perform" rating to an "outperform" rating and set a $180.00 target price on the stock in a report on Friday, July 8th. Wells Fargo & Company lifted their target price on shares of Trane Technologies from $123.00 to $133.00 and gave the company an "underweight" rating in a report on Thursday, August 4th. Finally, Mizuho lifted their target price on shares of Trane Technologies from $140.00 to $150.00 and gave the company a "neutral" rating in a report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $171.50.
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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- Get a free copy of the StockNews.com research report on Trane Technologies (TT)
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