Harrell Investment Partners LLC Increases Stock Holdings in Trane Technologies plc (NYSE:TT)

Harrell Investment Partners LLC grew its position in Trane Technologies plc (NYSE:TT) by 2.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,307 shares of the company’s stock after purchasing an additional 365 shares during the period. Trane Technologies makes up 1.9% of Harrell Investment Partners LLC’s holdings, making the stock its 16th biggest position. Harrell Investment Partners LLC’s holdings in Trane Technologies were worth $6,762,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Tidal Investments LLC increased its position in shares of Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after buying an additional 2,874 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after acquiring an additional 1,271 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of Trane Technologies by 14.3% during the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after acquiring an additional 711 shares during the last quarter. GDS Wealth Management boosted its stake in shares of Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after acquiring an additional 2,124 shares during the last quarter. Finally, King Wealth Management Group acquired a new stake in shares of Trane Technologies during the third quarter valued at $1,879,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Citigroup decreased their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Robert W. Baird decreased their price objective on 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. decreased their price target on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada raised their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $420.64.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $400.88 on Friday. The company has a market cap of $90.21 billion, a P/E ratio of 37.19, a PEG ratio of 2.16 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies plc has a one year low of $250.06 and a one year high of $422.00. The business’s 50-day simple moving average is $394.35 and its 200 day simple moving average is $375.50.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the previous year, the business earned $2.79 EPS. Trane Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, sell-side analysts forecast that Trane Technologies plc will post 11.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction that occurred 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 approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by company insiders.

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.