Burney Co. Acquires 21,717 Shares of Trane Technologies plc (NYSE:TT)

by · The Markets Daily

Burney Co. increased its stake in shares of Trane Technologies plc (NYSE:TT – Free Report) by 116.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,441 shares of the company’s stock after purchasing an additional 21,717 shares during the period. Burney Co.’s holdings in Trane Technologies were worth $14,937,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Global Wealth Strategies & Associates purchased a new position in shares of Trane Technologies during the 4th quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies in the third quarter worth $27,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies during the 3rd quarter valued at $36,000. Quarry LP bought a new stake in Trane Technologies during the second quarter valued at about $39,000. Finally, Pittenger & Anderson Inc. purchased a new position in shares of Trane Technologies in the third quarter valued at about $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Up 1.7 %

TT stock opened at $389.04 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 52 week low of $242.81 and a 52 week high of $422.00. The stock has a market capitalization of $87.54 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 2.38 and a beta of 1.06. The firm has a 50 day moving average of $396.47 and a 200 day moving average of $372.50.

Trane Technologies (NYSE:TT – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the company earned $2.79 EPS. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. Sell-side analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TT shares. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Citigroup reduced their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a research note on Thursday, October 31st. Barclays upped their price target 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. Finally, Wells Fargo & Company decreased their price objective on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. One investment 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. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $420.64.

Read Our Latest Stock Report on Trane Technologies

Trane Technologies Profile

(Free Report)

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.

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