Trane Technologies plc (NYSE:TT) Stock Position Trimmed by Destiny Wealth Partners LLC

Destiny Wealth Partners LLC decreased its position in Trane Technologies plc (NYSE:TT) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 542 shares of the company’s stock after selling 33 shares during the period. Destiny Wealth Partners LLC’s holdings in Trane Technologies were worth $200,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Quarry LP acquired a new stake in Trane Technologies in the second quarter worth about $39,000. EP Wealth Advisors LLC lifted its stake in shares of Trane Technologies by 2.8% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,493 shares of the company’s stock worth $491,000 after acquiring an additional 41 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Trane Technologies by 1.0% in the second quarter. Cetera Investment Advisers now owns 53,873 shares of the company’s stock valued at $17,721,000 after acquiring an additional 550 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Trane Technologies during the second quarter valued at approximately $7,687,000. Finally, Abacus Planning Group Inc. raised its holdings in Trane Technologies by 6.4% during the third quarter. Abacus Planning Group Inc. now owns 662 shares of the company’s stock worth $257,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction that occurred on 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 owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of several research analyst reports. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research report on Tuesday. Wells Fargo & Company dropped their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Northcoast Research started coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. Finally, Robert W. Baird cut their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $415.25.

Trane Technologies Stock Performance

Shares of TT stock opened at $362.47 on Friday. The stock’s fifty day simple moving average is $389.53 and its 200-day simple moving average is $376.35. The company has a market capitalization of $81.56 billion, a price-to-earnings ratio of 33.62, a P/E/G ratio of 1.96 and a beta of 1.06. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 1-year low of $250.79 and a 1-year high of $422.00.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. On average, sell-side analysts predict that Trane Technologies plc will post 11.16 earnings per share for the current fiscal year.

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.