Hennion & Walsh Asset Management Inc. Cuts Stake in Trane Technologies plc (NYSE:TT)

Hennion & Walsh Asset Management Inc. decreased its holdings in Trane Technologies plc (NYSE:TT) by 14.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,035 shares of the company’s stock after selling 3,503 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Trane Technologies were worth $7,769,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Trust Point Inc. grew its stake in shares of Trane Technologies by 3.1% during the 3rd quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after purchasing an additional 27 shares during the period. Cobblestone Capital Advisors LLC NY increased its holdings in Trane Technologies by 1.8% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock valued at $579,000 after buying an additional 27 shares in the last quarter. First Pacific Financial raised its position in shares of Trane Technologies by 1.1% in the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after acquiring an additional 28 shares during the period. Wescott Financial Advisory Group LLC increased its stake in shares of Trane Technologies by 1.7% in the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock valued at $670,000 after purchasing an additional 28 shares in the last quarter. Finally, Greenleaf Trust raised its stake in shares of Trane Technologies by 0.5% during the 3rd quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock worth $2,275,000 after buying an additional 29 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TT shares. UBS Group started coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price for the company. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Mizuho raised their target price on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. lowered their price target on shares of Trane Technologies from $390.00 to $387.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and an average target price of $420.64.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Trane Technologies stock opened at $388.05 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 52-week low of $242.81 and a 52-week high of $422.00. The firm has a market cap of $87.32 billion, a PE ratio of 36.00, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06. The company’s 50 day moving average is $396.47 and its two-hundred day moving average is $372.50.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the business posted $2.79 earnings per share. Trane Technologies’s revenue was up 10.0% compared to the same quarter last year. On average, research analysts expect that Trane Technologies plc will post 11.13 EPS for the current fiscal 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.