Brooklyn Investment Group Acquires 84 Shares of Trane Technologies plc (NYSE:TT)

Brooklyn Investment Group lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,447 shares of the company’s stock after buying an additional 84 shares during the quarter. Brooklyn Investment Group’s holdings in Trane Technologies were worth $534,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Global Wealth Strategies & Associates purchased a new position in shares of Trane Technologies during the 4th quarter valued at $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies during the 3rd quarter valued at about $27,000. DT Investment Partners LLC purchased a new position in shares of Trane Technologies during the third quarter worth about $36,000. Quarry LP bought a new position in shares of Trane Technologies in the second quarter worth approximately $39,000. Finally, Pittenger & Anderson Inc. purchased a new stake in Trane Technologies in the third quarter valued at approximately $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

NYSE:TT opened at $389.48 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 12 month low of $244.11 and a 12 month high of $422.00. The business’s 50-day moving average is $396.21 and its 200 day moving average is $372.70. The company has a market capitalization of $87.64 billion, a P/E ratio of 36.13, a P/E/G ratio of 1.95 and a beta of 1.06.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data 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. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.79 earnings per share. On average, equities research analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Royal Bank of Canada raised their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Mizuho raised their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a research report on Thursday, October 31st. Finally, UBS Group initiated coverage on Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $420.64.

About Trane Technologies

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.