Janney Montgomery Scott LLC Acquires 754 Shares of Trane Technologies plc (NYSE:TT)

Janney Montgomery Scott LLC raised its stake in Trane Technologies plc (NYSE:TT) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 111,981 shares of the company’s stock after acquiring an additional 754 shares during the period. Janney Montgomery Scott LLC’s holdings in Trane Technologies were worth $41,361,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global Wealth Strategies & Associates bought a new stake in Trane Technologies in the 4th quarter valued at $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies in the third quarter valued at about $27,000. DT Investment Partners LLC acquired 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 during the second quarter worth about $39,000. Finally, Pittenger & Anderson Inc. acquired a new stake in Trane Technologies in the 3rd quarter valued at approximately $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT opened at $400.46 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. The stock has a 50 day simple moving average of $394.68 and a 200 day simple moving average of $374.85. Trane Technologies plc has a 1-year low of $250.06 and a 1-year high of $422.00. The stock has a market cap of $90.11 billion, a P/E ratio of 37.15, a PEG ratio of 2.16 and a beta of 1.06.

Trane Technologies (NYSE:TT) last announced 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 net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the business posted $2.79 earnings per share. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. Research analysts anticipate that Trane Technologies plc will post 11.15 earnings per share for the current year.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of analysts have recently issued reports on TT shares. Wells Fargo & Company lowered their price objective on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Northcoast Research assumed coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price on the stock. UBS Group initiated coverage on Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target for the company. Finally, Barclays upped their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $420.64.

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.