Pallas Capital Advisors LLC Has $3.66 Million Position in Trane Technologies plc (NYSE:TT)

Pallas Capital Advisors LLC cut its holdings in Trane Technologies plc (NYSE:TT) by 14.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,919 shares of the company’s stock after selling 1,665 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Trane Technologies were worth $3,663,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in TT. Miracle Mile Advisors LLC bought a new position in Trane Technologies in the 4th quarter valued at $2,548,000. Wedmont Private Capital lifted its stake in shares of Trane Technologies by 4.8% during the fourth quarter. Wedmont Private Capital now owns 2,983 shares of the company’s stock valued at $1,125,000 after acquiring an additional 136 shares during the period. Fiduciary Alliance LLC acquired a new stake in Trane Technologies in the fourth quarter worth about $838,000. Czech National Bank raised its holdings in Trane Technologies by 6.1% during the 4th quarter. Czech National Bank now owns 48,790 shares of the company’s stock worth $18,021,000 after purchasing an additional 2,819 shares during the last quarter. Finally, Hilltop National Bank lifted its position in Trane Technologies by 0.7% during the 4th quarter. Hilltop National Bank now owns 6,140 shares of the company’s stock valued at $2,268,000 after purchasing an additional 40 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TT has been the subject of a number of recent research reports. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Royal Bank of Canada raised their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Citigroup dropped 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. The Goldman Sachs Group raised their target price on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Mizuho upped their price target on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $414.43.

Trane Technologies Stock Down 0.1 %

Shares of NYSE:TT traded down $0.24 during midday trading on Monday, reaching $376.88. 960,770 shares of the company were exchanged, compared to its average volume of 1,172,880. The firm has a market cap of $84.81 billion, a PE ratio of 34.96, a P/E/G ratio of 2.38 and a beta of 1.06. Trane Technologies plc has a fifty-two week low of $242.81 and a fifty-two week high of $422.00. The stock has a fifty day simple moving average of $396.63 and a two-hundred day simple moving average of $371.81. 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 (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $2.79 EPS. As a group, sell-side analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current 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.