Thrivent Financial for Lutherans Has $17.36 Million Stock Position in Trane Technologies plc $TT

Thrivent Financial for Lutherans lessened its holdings in Trane Technologies plc (NYSE:TT) by 70.1% during the third quarter, HoldingsChannel.com reports. The fund owned 41,147 shares of the company’s stock after selling 96,241 shares during the period. Thrivent Financial for Lutherans’ holdings in Trane Technologies were worth $17,362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TT. Financial Consulate Inc. bought a new stake in Trane Technologies during the 3rd quarter worth $25,000. Icon Advisers Inc. Co. acquired a new position in shares of Trane Technologies in the second quarter valued at approximately $26,000. Hantz Financial Services Inc. raised its holdings in Trane Technologies by 1,016.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after buying an additional 61 shares during the last quarter. Halbert Hargrove Global Advisors LLC boosted its position in Trane Technologies by 34.2% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock worth $43,000 after buying an additional 26 shares during the period. Finally, Private Wealth Management Group LLC grew its holdings in Trane Technologies by 105.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 113 shares of the company’s stock worth $48,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 2.3%

NYSE TT opened at $434.98 on Wednesday. The stock has a market capitalization of $96.45 billion, a P/E ratio of 33.51, a P/E/G ratio of 2.13 and a beta of 1.21. The business has a 50 day simple moving average of $396.85 and a 200 day simple moving average of $414.38. 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.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.61 EPS. Research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Wells Fargo & Company raised their target price on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. Royal Bank Of Canada upped their price target on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a research report on Wednesday, January 7th. Finally, Citigroup lifted their price objective on Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $484.67.

About Trane Technologies

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.