Parsons Capital Management Inc. RI Trims Stock Holdings in Trane Technologies plc (NYSE:TT)

Parsons Capital Management Inc. RI reduced its stake in Trane Technologies plc (NYSE:TT) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,128 shares of the company’s stock after selling 70 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Trane Technologies were worth $3,371,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Trust Point Inc. lifted its position in Trane Technologies by 3.1% during the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after buying an additional 27 shares during the period. Cobblestone Capital Advisors LLC NY lifted its position in Trane Technologies by 1.8% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock worth $579,000 after buying an additional 27 shares during the period. First Pacific Financial lifted its position in Trane Technologies by 1.1% during the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after buying an additional 28 shares during the period. Wescott Financial Advisory Group LLC lifted its position in Trane Technologies by 1.7% during the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after buying an additional 28 shares during the period. Finally, Greenleaf Trust lifted its position in Trane Technologies by 0.5% during the third 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.

Insider Activity

In other news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research note on Thursday, October 31st. UBS Group began coverage on Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price for the company. JPMorgan Chase & Co. lowered their target price on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Finally, Robert W. Baird lowered their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $420.64.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $379.52 on Monday. The stock’s 50 day moving average price is $394.35 and its 200 day moving average price is $376.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The stock has a market cap of $85.40 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 2.16 and a beta of 1.06. Trane Technologies plc has a 12 month low of $250.77 and a 12 month high of $422.00.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter last year, the business posted $2.79 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. Equities research analysts anticipate that Trane Technologies plc will post 11.16 earnings per share 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.