Raleigh Capital Management Inc. Purchases 100 Shares of Trane Technologies plc (NYSE:TT)

Raleigh Capital Management Inc. raised its position in shares of Trane Technologies plc (NYSE:TT) by 21.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 558 shares of the company’s stock after purchasing an additional 100 shares during the period. Raleigh Capital Management Inc.’s holdings in Trane Technologies were worth $206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in shares of Trane Technologies by 35,914.4% in the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after acquiring an additional 1,640,569 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after purchasing an additional 671,691 shares during the period. FMR LLC raised its holdings in shares of Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after purchasing an additional 397,537 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after purchasing an additional 293,916 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Trane Technologies by 76.9% during the third quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company’s stock valued at $162,175,000 after purchasing an additional 181,335 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Robert W. Baird reduced 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 note on Thursday, October 31st. JPMorgan Chase & Co. reduced their price target on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Wells Fargo & Company dropped their price objective on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $420.64.

Trane Technologies Price Performance

NYSE TT opened at $400.46 on Friday. The stock’s fifty day moving average price is $394.68 and its 200 day moving average price is $374.85. Trane Technologies plc has a 1 year low of $250.06 and a 1 year high of $422.00. 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 company has a market cap of $90.11 billion, a price-to-earnings ratio of 37.15, a PEG ratio of 2.16 and a beta of 1.06.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the company earned $2.79 EPS. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities research analysts forecast that Trane Technologies plc will post 11.15 earnings per share for the current year.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is currently owned by corporate insiders.

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.