Trane Technologies plc (NYSE:TT) Stake Cut by Watershed Private Wealth LLC

Watershed Private Wealth LLC cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 3.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,023 shares of the company’s stock after selling 41 shares during the quarter. Watershed Private Wealth LLC’s holdings in Trane Technologies were worth $378,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TT. Global Wealth Strategies & Associates acquired a new stake in Trane Technologies during the fourth quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Trane Technologies during the 3rd quarter valued at about $27,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies in the 3rd quarter valued at approximately $36,000. Sound Income Strategies LLC increased its holdings in Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares during the last quarter. Finally, Quarry LP bought a new position in Trane Technologies during the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT opened at $365.41 on Wednesday. The firm’s 50-day moving average is $393.50 and its 200-day moving average is $376.20. The company has a market cap of $82.23 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.16 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies plc has a 52-week low of $250.77 and a 52-week high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating 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 firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the prior year, the firm posted $2.79 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts anticipate that Trane Technologies plc will post 11.16 earnings per share for the current year.

Analyst Ratings Changes

TT has been the subject of several recent research reports. UBS Group initiated coverage on shares of Trane Technologies in a research report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price for the company. Northcoast Research started coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price on the stock. Barclays boosted their price target on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Wells Fargo & Company lowered their price objective on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Finally, Citigroup reduced their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $417.81.

Insider Activity

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Company 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.