Trane Technologies plc (NYSE:TT) Shares Sold by Isthmus Partners LLC

Isthmus Partners LLC reduced its holdings in Trane Technologies plc (NYSE:TT) by 10.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,051 shares of the company’s stock after selling 6,200 shares during the quarter. Trane Technologies makes up 6.7% of Isthmus Partners LLC’s portfolio, making the stock its biggest holding. Isthmus Partners LLC’s holdings in Trane Technologies were worth $17,450,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Trane Technologies in the fourth quarter worth about $655,804,000. Swedbank AB purchased a new stake in shares of Trane Technologies in the first quarter worth about $206,211,000. TD Asset Management Inc boosted its position in shares of Trane Technologies by 719.8% in the fourth quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock worth $183,143,000 after buying an additional 659,299 shares during the period. Putnam Investments LLC boosted its position in shares of Trane Technologies by 27,824.4% in the fourth quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock worth $139,689,000 after buying an additional 570,679 shares during the period. Finally, Kodai Capital Management LP purchased a new stake in shares of Trane Technologies in the fourth quarter worth about $77,615,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TT shares. Stephens reissued an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. Barclays increased their price target on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Morgan Stanley started coverage on Trane Technologies in a report on Friday. They issued an “overweight” rating and a $425.00 price target for the company. Wells Fargo & Company increased their price target on Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a report on Friday. Finally, Robert W. Baird increased their price target on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $337.29.

Trane Technologies Stock Performance

Shares of Trane Technologies stock remained flat at $342.07 on Friday. The stock had a trading volume of 1,239,282 shares, compared to its average volume of 1,116,635. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. The stock has a fifty day moving average price of $338.47 and a 200-day moving average price of $319.71. The stock has a market capitalization of $77.43 billion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 2.51 and a beta of 1.01. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $363.15.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period last year, the firm earned $2.68 EPS. The firm’s revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Trane Technologies plc will post 10.82 earnings per share for the current year.

Insider Activity at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

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.