City Holding Co. Trims Holdings in Trane Technologies plc (NYSE:TT)

City Holding Co. cut its stake in Trane Technologies plc (NYSE:TT) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,752 shares of the company’s stock after selling 407 shares during the quarter. City Holding Co.’s holdings in Trane Technologies were worth $5,818,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. FMR LLC raised its stake 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 acquiring an additional 397,537 shares during the period. State Street Corp boosted its position in Trane Technologies by 0.8% in the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company’s stock valued at $3,797,565,000 after buying an additional 77,830 shares during the period. Geode Capital Management LLC increased its holdings in Trane Technologies by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock worth $1,797,700,000 after purchasing an additional 65,991 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after buying an additional 671,691 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Trane Technologies by 0.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock worth $832,691,000 after purchasing an additional 20,151 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.2 %

Shares of TT opened at $389.48 on Monday. The firm has a market cap of $87.64 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06. 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 company’s fifty day moving average is $395.78 and its two-hundred day moving average is $373.51. Trane Technologies plc has a fifty-two week low of $244.11 and a fifty-two week high of $422.00.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share 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 business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the previous year, the business posted $2.79 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. Analysts forecast that Trane Technologies plc will post 11.13 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 stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TT. Northcoast Research initiated coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target on the stock. UBS Group began coverage on Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target on the stock. Barclays raised their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Mizuho lifted their price target on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Citigroup lowered their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $420.64.

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.