CCLA Investment Management Sells 39,390 Shares of Trane Technologies plc (NYSE:TT)

CCLA Investment Management lessened its holdings in shares of Trane Technologies plc (NYSE:TT) by 13.4% during the 4th quarter, HoldingsChannel reports. The firm owned 254,881 shares of the company’s stock after selling 39,390 shares during the period. CCLA Investment Management’s holdings in Trane Technologies were worth $94,188,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TT shares. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Wells Fargo & Company lowered their target price 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. 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. Barclays boosted their target price on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, UBS Group started coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $414.43.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Trane Technologies stock opened at $382.60 on Wednesday. The stock’s fifty day moving average price is $396.47 and its two-hundred day moving average price is $372.50. The firm has a market cap of $86.09 billion, a PE ratio of 35.49, 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 current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a one year low of $242.81 and a one year high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 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 business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the previous year, the firm earned $2.79 earnings per share. Trane Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, research analysts expect that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

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.