Trane Technologies plc (NYSE:TT) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. grew its stake in shares of Trane Technologies plc (NYSE:TT) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,066 shares of the company’s stock after acquiring an additional 1,341 shares during the period. Pacer Advisors Inc.’s holdings in Trane Technologies were worth $6,673,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Global Wealth Strategies & Associates acquired a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. acquired a new stake in Trane Technologies during the 3rd quarter valued at $27,000. DT Investment Partners LLC purchased a new position in Trane Technologies during the third quarter worth $36,000. Sound Income Strategies LLC raised its holdings in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Trane Technologies in the second quarter valued at $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT opened at $364.49 on Thursday. Trane Technologies plc has a twelve month low of $250.79 and a twelve month high of $422.00. The firm has a market capitalization of $82.02 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 2.16 and a beta of 1.06. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The firm’s fifty day simple moving average is $392.55 and its 200 day simple moving average is $376.35.

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 business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.79 earnings per share. As a group, equities research analysts expect that Trane Technologies plc will post 11.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares in the company, valued at $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 is available at this hyperlink. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Barclays boosted their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Wells Fargo & Company reduced their price objective on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Melius Research reaffirmed a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday. UBS Group assumed coverage on Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target on the stock. Finally, HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $417.81.

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.