Ninety One UK Ltd Sells 164,214 Shares of Trane Technologies plc (NYSE:TT)

Ninety One UK Ltd cut its stake in Trane Technologies plc (NYSE:TT) by 18.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 724,178 shares of the company’s stock after selling 164,214 shares during the period. Ninety One UK Ltd’s holdings in Trane Technologies were worth $267,475,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TT. Czech National Bank lifted its position in Trane Technologies by 6.6% during the 3rd quarter. Czech National Bank now owns 45,971 shares of the company’s stock valued at $17,870,000 after acquiring an additional 2,837 shares during the period. Azzad Asset Management Inc. ADV increased its stake in shares of Trane Technologies by 1.1% during the third quarter. Azzad Asset Management Inc. ADV now owns 6,388 shares of the company’s stock valued at $2,483,000 after purchasing an additional 68 shares in the last quarter. Diversified Trust Co lifted its holdings in shares of Trane Technologies by 4.5% during the third quarter. Diversified Trust Co now owns 3,310 shares of the company’s stock valued at $1,287,000 after purchasing an additional 144 shares during the last quarter. Chapin Davis Inc. grew its stake in shares of Trane Technologies by 4.9% in the 3rd quarter. Chapin Davis Inc. now owns 6,599 shares of the company’s stock worth $2,565,000 after buying an additional 308 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC increased its position in Trane Technologies by 0.8% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 5,041 shares of the company’s stock valued at $1,959,000 after buying an additional 40 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on TT shares. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a report on Thursday, October 31st. Royal Bank of Canada increased 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. Mizuho raised their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Melius Research reiterated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group raised their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $415.25.

Trane Technologies Stock Down 1.4 %

TT opened at $355.41 on Wednesday. Trane Technologies plc has a 1-year low of $265.37 and a 1-year high of $422.00. The firm’s 50 day simple moving average is $388.48 and its two-hundred day simple moving average is $377.06. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $79.97 billion, a PE ratio of 31.59, a PEG ratio of 2.18 and a beta of 1.05.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, equities analysts forecast that Trane Technologies plc will post 12.79 EPS for the current year.

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.