Raymond James Trust N.A. Sells 268 Shares of Trane Technologies plc (NYSE:TT)

Raymond James Trust N.A. decreased its position in shares of Trane Technologies plc (NYSE:TT) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,642 shares of the company’s stock after selling 268 shares during the period. Raymond James Trust N.A.’s holdings in Trane Technologies were worth $2,561,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. increased its holdings in shares of Trane Technologies by 4.5% in the 2nd quarter. Advisor Group Holdings Inc. now owns 29,063 shares of the company’s stock worth $2,585,000 after buying an additional 1,254 shares during the last quarter. Private Advisor Group LLC bought a new position in Trane Technologies during the second quarter valued at $78,000. Level Four Advisory Services LLC bought a new position in Trane Technologies during the second quarter valued at $206,000. RMR Wealth Builders bought a new position in Trane Technologies during the second quarter valued at $91,000. Finally, Charles Schwab Investment Management Inc. increased its position in Trane Technologies by 8.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,198,657 shares of the company’s stock valued at $106,657,000 after acquiring an additional 96,055 shares during the last quarter. Institutional investors own 81.03% of the company’s stock.

TT has been the topic of several analyst reports. Bank of America downgraded shares of Trane Technologies from a “buy” rating to an “underperform” rating and set a $155.00 price target on the stock. in a report on Wednesday, November 11th. Smith Barney Citigroup upped their target price on Trane Technologies from $147.00 to $152.00 in a research note on Thursday, October 29th. Morgan Stanley upped their price objective on Trane Technologies from $122.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Wolfe Research raised Trane Technologies from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, December 8th. Finally, Argus raised Trane Technologies from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Friday, November 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $126.94.

In other news, EVP Marcia J. Avedon sold 16,000 shares of the firm’s stock in a transaction dated Friday, November 27th. The shares were sold at an average price of $145.26, for a total value of $2,324,160.00. Following the sale, the executive vice president now directly owns 125,155 shares in the company, valued at approximately $18,180,015.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael W. Lamach sold 232,115 shares of the firm’s stock in a transaction dated Friday, November 27th. The shares were sold at an average price of $144.81, for a total transaction of $33,612,573.15. Following the completion of the sale, the chief executive officer now owns 373,424 shares in the company, valued at $54,075,529.44. The disclosure for this sale can be found here. 0.92% of the stock is owned by company insiders.

NYSE TT opened at $150.95 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.30 and a current ratio of 1.66. The firm’s 50 day moving average price is $144.29 and its 200-day moving average price is $125.74. Trane Technologies plc has a 52-week low of $70.00 and a 52-week high of $154.43. The company has a market cap of $36.25 billion, a PE ratio of 38.02, a P/E/G ratio of 6.16 and a beta of 1.08.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 28th. The company reported $1.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.38. The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.20 billion. Trane Technologies had a net margin of 6.76% and a return on equity of 18.82%. On average, analysts forecast that Trane Technologies plc will post 3.9 earnings per share for the current fiscal year.

About Trane Technologies

Trane Technologies plc provides climate control solutions for buildings, homes, and transportation. It offers offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration products; large and light commercial unitary products;motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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