12,000 Shares in Trane Technologies plc $TT Bought by Flossbach Von Storch SE

Flossbach Von Storch SE acquired a new stake in shares of Trane Technologies plc (NYSE:TT) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 12,000 shares of the company’s stock, valued at approximately $5,064,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ethic Inc. grew its position in Trane Technologies by 6.6% in the 2nd quarter. Ethic Inc. now owns 26,836 shares of the company’s stock worth $11,601,000 after purchasing an additional 1,672 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Trane Technologies in the 3rd quarter worth $6,571,000. Nordea Investment Management AB grew its holdings in shares of Trane Technologies by 2.4% in the third quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock worth $1,051,049,000 after acquiring an additional 57,774 shares during the period. Boston Common Asset Management LLC purchased a new stake in Trane Technologies during the third quarter valued at $9,546,000. Finally, Tred Avon Family Wealth LLC bought a new position in Trane Technologies in the third quarter valued at about $1,530,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Up 0.5%

TT opened at $394.37 on Thursday. The stock has a market cap of $87.45 billion, a price-to-earnings ratio of 30.34, a price-to-earnings-growth ratio of 1.96 and a beta of 1.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.20. The firm’s fifty day moving average is $395.52 and its 200 day moving average is $415.00. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the prior year, the business posted $3.37 EPS. Trane Technologies’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TT has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Barclays reduced their target price on shares of Trane Technologies from $506.00 to $505.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target on the stock in a research note on Monday, December 15th. Wells Fargo & Company cut their price objective on shares of Trane Technologies from $415.00 to $375.00 and set an “underweight” rating for the company in a research report on Friday, December 19th. Finally, Morgan Stanley decreased their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $479.73.

Trane Technologies 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.