Cerro Pacific Wealth Advisors LLC Takes Position in Trane Technologies plc (NYSE:TT)

Cerro Pacific Wealth Advisors LLC bought a new stake in Trane Technologies plc (NYSE:TT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 750 shares of the company’s stock, valued at approximately $291,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies during the 3rd quarter worth $27,000. Global Wealth Strategies & Associates purchased a new stake in Trane Technologies during the 4th quarter worth about $26,000. DT Investment Partners LLC acquired a new position in shares of Trane Technologies during the 3rd quarter worth about $36,000. Pittenger & Anderson Inc. purchased a new position in shares of Trane Technologies in the 3rd quarter valued at about $39,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Trane Technologies during the third quarter worth approximately $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Robert W. Baird dropped 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. JPMorgan Chase & Co. cut their price target on shares of Trane Technologies from $390.00 to $387.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. UBS Group began coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price objective for the company. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Barclays raised their price target on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $420.64.

Insider Activity

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

Trane Technologies Stock Up 0.2 %

Trane Technologies stock opened at $400.46 on Friday. The stock’s 50 day moving average price is $394.68 and its 200 day moving average price is $374.85. The company has a market cap of $90.11 billion, a PE ratio of 37.15, a price-to-earnings-growth ratio of 2.16 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a 1-year low of $250.06 and a 1-year high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.32 billion. During the same period in the prior year, the company posted $2.79 EPS. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts predict that Trane Technologies plc will post 11.16 EPS for the current fiscal year.

Trane Technologies 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.