Strategy Asset Managers LLC Cuts Holdings in Trane Technologies plc $TT

Strategy Asset Managers LLC decreased its stake in Trane Technologies plc (NYSE:TT) by 68.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 792 shares of the company’s stock after selling 1,727 shares during the period. Strategy Asset Managers LLC’s holdings in Trane Technologies were worth $334,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Ethic Inc. lifted its position in Trane Technologies by 6.6% during the 2nd quarter. Ethic Inc. now owns 26,836 shares of the company’s stock valued at $11,601,000 after acquiring an additional 1,672 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Trane Technologies during the third quarter valued at approximately $6,571,000. Nordea Investment Management AB boosted its position in shares of Trane Technologies by 2.4% in the 3rd quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock worth $1,051,049,000 after purchasing an additional 57,774 shares in the last quarter. Boston Common Asset Management LLC bought a new position in Trane Technologies during the 3rd quarter valued at approximately $9,546,000. Finally, Compass Wealth Management LLC grew its stake in shares of Trane Technologies by 3,785.4% in the third quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock worth $11,476,000 after acquiring an additional 26,498 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Performance

Shares of TT opened at $424.91 on Tuesday. The firm has a market capitalization of $94.22 billion, a P/E ratio of 32.74, a PEG ratio of 2.11 and a beta of 1.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. The business has a fifty day moving average of $396.53 and a 200 day moving average of $414.47.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.Trane Technologies’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.61 earnings per share. As a group, sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Wall Street Analyst Weigh In

TT has been the topic of a number of analyst reports. UBS Group dropped their price target on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Wells Fargo & Company increased their price target on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a report on Friday. Citigroup increased their target price on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Finally, Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price for the company in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.