Trane Technologies plc (NYSE:TT) Shares Sold by Breakwater Capital Group

Breakwater Capital Group cut its position in Trane Technologies plc (NYSE:TT) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,401 shares of the company’s stock after selling 146 shares during the quarter. Trane Technologies accounts for 0.9% of Breakwater Capital Group’s holdings, making the stock its 25th largest holding. Breakwater Capital Group’s holdings in Trane Technologies were worth $4,580,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Tidal Investments LLC boosted its position in Trane Technologies by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after buying an additional 2,874 shares during the period. Synovus Financial Corp raised its stake in shares of Trane Technologies by 16.8% in the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after acquiring an additional 1,271 shares in the last quarter. Albar Capital Ltd purchased a new position in Trane Technologies in the second quarter valued at $14,556,000. GDS Wealth Management grew its stake in Trane Technologies by 4.3% during the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after purchasing an additional 2,124 shares in the last quarter. Finally, King Wealth Management Group acquired a new position in Trane Technologies during the 3rd quarter worth $1,879,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, SVP Mairead Magner sold 4,329 shares of the business’s 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 transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.38% of the stock is owned by company insiders.

Trane Technologies Stock Down 0.1 %

TT opened at $376.88 on Tuesday. The stock has a market capitalization of $84.81 billion, a P/E ratio of 34.96, a price-to-earnings-growth ratio of 2.38 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies plc has a one year low of $242.81 and a one year high of $422.00. The business’s 50-day simple moving average is $396.63 and its 200-day simple moving average is $372.12.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on TT. Wells Fargo & Company decreased 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. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a report on Thursday, October 31st. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Robert W. Baird decreased their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $414.43.

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.