OLD National Bancorp IN Buys New Stake in Trane Technologies plc (NYSE:TT)

OLD National Bancorp IN purchased a new position in Trane Technologies plc (NYSE:TT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 558 shares of the company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TT. Quarry LP bought a new position in Trane Technologies during the second quarter valued at approximately $39,000. Czech National Bank boosted its position in shares of Trane Technologies by 6.6% during the 3rd quarter. Czech National Bank now owns 45,971 shares of the company’s stock valued at $17,870,000 after acquiring an additional 2,837 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Trane Technologies by 23.3% in the third quarter. GAMMA Investing LLC now owns 5,281 shares of the company’s stock valued at $2,053,000 after purchasing an additional 998 shares in the last quarter. Azzad Asset Management Inc. ADV increased its position in Trane Technologies by 1.1% in the third quarter. Azzad Asset Management Inc. ADV now owns 6,388 shares of the company’s stock worth $2,483,000 after purchasing an additional 68 shares during the last quarter. Finally, Diversified Trust Co lifted its position in Trane Technologies by 4.5% during the third quarter. Diversified Trust Co now owns 3,310 shares of the company’s stock valued at $1,287,000 after purchasing an additional 144 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, SVP Mairead Magner sold 4,329 shares of the firm’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 sale, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TT. The Goldman Sachs Group upped their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research report on Tuesday, January 28th. Robert W. Baird lowered their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Melius Research reiterated a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $415.25.

Trane Technologies Trading Down 1.1 %

TT opened at $362.47 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The stock’s fifty day moving average is $389.53 and its two-hundred day moving average is $376.56. The company has a market capitalization of $81.56 billion, a P/E ratio of 33.62, a PEG ratio of 1.96 and a beta of 1.06. Trane Technologies plc has a 52 week low of $250.79 and a 52 week high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Analysts forecast that Trane Technologies plc will post 11.16 earnings per share for the current 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.