Argent Capital Management LLC Cuts Stake in Trane Technologies plc (NYSE:TT)

Argent Capital Management LLC reduced its position in Trane Technologies plc (NYSE:TT) by 7.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,493 shares of the company’s stock after selling 422 shares during the period. Argent Capital Management LLC’s holdings in Trane Technologies were worth $2,029,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Tidal Investments LLC increased its stake in shares of Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after purchasing an additional 2,874 shares in the last quarter. Synovus Financial Corp raised its holdings in Trane Technologies by 16.8% during the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after buying an additional 1,271 shares during the period. Albar Capital Ltd bought a new stake in Trane Technologies in the second quarter worth $14,556,000. GDS Wealth Management raised its stake in shares of Trane Technologies by 4.3% in the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after acquiring an additional 2,124 shares during the period. Finally, King Wealth Management Group purchased a new stake in Trane Technologies in the 3rd quarter worth about $1,879,000. 82.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on TT. UBS Group started coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target on the stock. Mizuho boosted their price target on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company decreased their target price on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Citigroup dropped their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday. Finally, The Goldman Sachs Group lifted their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $420.64.

Trane Technologies Stock Up 0.7 %

TT opened at $385.50 on Thursday. The stock has a market capitalization of $86.75 billion, a P/E ratio of 35.76, a price-to-earnings-growth ratio of 1.95 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 one year low of $242.81 and a one year high of $422.00. The business’s 50-day simple moving average is $396.47 and its 200-day simple moving average is $372.50.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $2.79 EPS. Analysts anticipate that Trane Technologies plc will post 11.13 EPS 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.