R Squared Ltd Makes New Investment in Trane Technologies plc (NYSE:TT)

R Squared Ltd acquired a new position in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,200 shares of the company’s stock, valued at approximately $443,000.

Several other large investors have also recently made changes to their positions in the stock. Global Wealth Strategies & Associates purchased a new position in Trane Technologies during the fourth quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies during the third quarter worth $27,000. DT Investment Partners LLC acquired a new stake in Trane Technologies in the 3rd quarter valued at about $36,000. Sound Income Strategies LLC increased its stake in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares during the last quarter. Finally, Quarry LP purchased a new position in Trane Technologies during the second quarter worth about $39,000. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on TT. Robert W. Baird cut 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 note on Thursday, October 31st. Citigroup decreased their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a report on Tuesday. Mizuho raised their target price on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Northcoast Research assumed coverage on Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus price target of $417.81.

Insider Activity

In related news, SVP Mairead Magner sold 4,329 shares of the firm’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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Down 0.6 %

TT opened at $365.41 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The company has a market cap of $82.23 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.16 and a beta of 1.06. Trane Technologies plc has a one year low of $250.77 and a one year high of $422.00. The business’s fifty day moving average is $392.55 and its two-hundred day moving average is $376.35.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (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 for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the firm earned $2.79 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts anticipate that Trane Technologies plc will post 11.16 EPS for the current fiscal year.

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.