Phillips Wealth Planners LLC Boosts Position in Trane Technologies plc (NYSE:TT)

Phillips Wealth Planners LLC boosted its holdings in Trane Technologies plc (NYSE:TT) by 3.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,674 shares of the company’s stock after purchasing an additional 62 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Trane Technologies were worth $631,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Park Place Capital Corp grew its position in Trane Technologies by 182.3% in the fourth quarter. Park Place Capital Corp now owns 943 shares of the company’s stock valued at $348,000 after acquiring an additional 609 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Trane Technologies by 45.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 128,762 shares of the company’s stock valued at $47,558,000 after acquiring an additional 40,457 shares in the last quarter. Genesis Private Wealth LLC acquired a new stake in Trane Technologies in the fourth quarter valued at approximately $209,000. Simon Quick Advisors LLC grew its position in Trane Technologies by 9.1% in the fourth quarter. Simon Quick Advisors LLC now owns 981 shares of the company’s stock valued at $362,000 after acquiring an additional 82 shares in the last quarter. Finally, Atomi Financial Group Inc. grew its position in Trane Technologies by 4.5% in the fourth quarter. Atomi Financial Group Inc. now owns 1,781 shares of the company’s stock valued at $658,000 after acquiring an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

TT stock opened at $399.35 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The stock has a market capitalization of $89.86 billion, a price-to-earnings ratio of 37.05, a PEG ratio of 2.16 and a beta of 1.06. Trane Technologies plc has a 1 year low of $249.21 and a 1 year high of $422.00. The stock’s fifty day moving average is $394.99 and its two-hundred day moving average is $374.68.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion for 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 quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the business posted $2.79 earnings per share. On average, research analysts predict that Trane Technologies plc will post 11.15 EPS for the current year.

Insider Activity at Trane Technologies

In related 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 $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TT. Mizuho increased their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada raised their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. decreased their price target on shares of Trane Technologies from $390.00 to $387.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Northcoast Research began coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target for the company. Finally, HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $420.64.

About Trane Technologies

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.