Trane Technologies plc (NYSE:TT) Shares Sold by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. lessened its position in shares of Trane Technologies plc (NYSE:TT) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,253 shares of the company’s stock after selling 72 shares during the period. Contravisory Investment Management Inc.’s holdings in Trane Technologies were worth $463,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in Trane Technologies during the 3rd quarter worth $27,000. Global Wealth Strategies & Associates acquired a new stake in shares of Trane Technologies during the fourth quarter worth approximately $26,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies in the 3rd quarter worth about $36,000. Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies in the 3rd quarter valued at approximately $39,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Trane Technologies in the 3rd quarter valued at about $44,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trane Technologies 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 transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. UBS Group initiated coverage on Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price for the company. Northcoast Research initiated coverage on Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a report on Thursday, October 31st. Wells Fargo & Company reduced their target price on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Trane Technologies from $390.00 to $387.00 and set a “neutral” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $420.64.

Trane Technologies Stock Performance

TT opened at $385.50 on Thursday. The stock has a 50-day moving average of $396.47 and a 200-day moving average of $372.50. 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 52-week low of $242.81 and a 52-week high of $422.00. The company has a market cap of $86.75 billion, a PE ratio of 35.76, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the prior year, the business earned $2.79 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. As a group, equities research analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Company 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.