Trane Technologies plc (NYSE:TT) Position Trimmed by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. lessened its holdings in shares of Trane Technologies plc (NYSE:TT) by 5.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,705 shares of the company’s stock after selling 528 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Trane Technologies were worth $2,869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TT. GoalVest Advisory LLC lifted its holdings in shares of Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Trane Technologies during the 1st quarter valued at about $27,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Trane Technologies during the 1st quarter valued at about $30,000. Sachetta LLC acquired a new stake in shares of Trane Technologies during the 4th quarter valued at about $27,000. Finally, Motco acquired a new stake in shares of Trane Technologies during the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TT has been the subject of several research reports. Royal Bank of Canada lifted their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Stephens restated an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Barclays boosted their target price on Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. UBS Group boosted their target price on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Finally, Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $343.54.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $369.20 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $341.78 and its two-hundred day moving average is $323.43. The company has a market cap of $83.57 billion, a P/E ratio of 39.44, a P/E/G ratio of 2.45 and a beta of 1.01. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $370.22.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. Trane Technologies’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.68 earnings per share. On average, equities analysts expect that Trane Technologies plc will post 10.87 EPS for the current year.

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.