Miracle Mile Advisors LLC Buys New Holdings in Trane Technologies plc (NYSE:TT)

Miracle Mile Advisors LLC purchased a new position in shares of Trane Technologies plc (NYSE:TT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,898 shares of the company’s stock, valued at approximately $2,548,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Tidal Investments LLC boosted its position in shares of Trane Technologies by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after acquiring an additional 2,874 shares in the last quarter. Synovus Financial Corp lifted its stake in Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after purchasing an additional 1,271 shares during the period. Albar Capital Ltd acquired a new stake in Trane Technologies during the second quarter valued at approximately $14,556,000. GDS Wealth Management grew its stake 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 purchasing an additional 2,124 shares during the period. Finally, King Wealth Management Group acquired a new position in shares of Trane Technologies in the 3rd quarter worth approximately $1,879,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.1 %

Shares of NYSE:TT opened at $376.88 on Tuesday. 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 $84.81 billion, a price-to-earnings ratio of 34.96, a P/E/G ratio of 2.38 and a beta of 1.06. The company has a 50 day moving average of $396.63 and a 200-day moving average of $372.12. Trane Technologies plc has a one year low of $242.81 and a one year high of $422.00.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate 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 company posted $2.79 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, sell-side analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TT. Royal Bank of Canada upped their price target on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. The Goldman Sachs Group increased their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Robert W. Baird reduced their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. UBS Group assumed coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective for the company. Finally, Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $414.43.

Insider Buying and Selling at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.38% of the company’s stock.

Trane Technologies Company 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.