Sky Investment Group LLC Sells 60 Shares of Trane Technologies plc (NYSE:TT)

Sky Investment Group LLC trimmed its stake in Trane Technologies plc (NYSE:TT) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 925 shares of the company’s stock after selling 60 shares during the period. Sky Investment Group LLC’s holdings in Trane Technologies were worth $342,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Global Wealth Strategies & Associates bought a new position in Trane Technologies in the fourth quarter worth about $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies in the 3rd quarter worth approximately $27,000. DT Investment Partners LLC bought a new position in shares of Trane Technologies during the 3rd quarter worth approximately $36,000. Quarry LP purchased a new stake in Trane Technologies during the second quarter valued at approximately $39,000. Finally, Pittenger & Anderson Inc. acquired a new stake in Trane Technologies in the third quarter valued at approximately $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TT has been the subject of several analyst reports. Citigroup decreased their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Mizuho raised their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a report on Thursday, October 31st. Robert W. Baird dropped their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Wells Fargo & Company decreased their price target on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $420.64.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is owned by company insiders.

Trane Technologies Stock Performance

TT opened at $389.48 on Tuesday. The company has a market cap of $87.64 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 1.95 and a beta of 1.06. The firm’s fifty day simple moving average is $395.78 and its two-hundred day simple moving average is $373.81. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 52-week low of $244.11 and a 52-week high of $422.00.

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 analysts’ expectations of $5.32 billion. During the same period in the previous year, the firm posted $2.79 EPS. Trane Technologies’s revenue was up 10.0% compared to the same quarter last year. Equities analysts anticipate that Trane Technologies plc will post 11.13 earnings per share 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.