Flossbach Von Storch SE Takes $5.06 Million Position in Trane Technologies plc $TT

Flossbach Von Storch SE bought a new position in Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 12,000 shares of the company’s stock, valued at approximately $5,064,000.

A number of other large investors have also added to or reduced their stakes in TT. NorthRock Partners LLC grew its position in Trane Technologies by 1.2% during the second quarter. NorthRock Partners LLC now owns 2,052 shares of the company’s stock valued at $898,000 after acquiring an additional 24 shares during the last quarter. King Luther Capital Management Corp boosted its stake in shares of Trane Technologies by 1.3% in the 2nd quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock valued at $849,000 after purchasing an additional 24 shares in the last quarter. Old Port Advisors grew its holdings in shares of Trane Technologies by 3.2% during the 3rd quarter. Old Port Advisors now owns 778 shares of the company’s stock valued at $328,000 after purchasing an additional 24 shares during the last quarter. OneAscent Wealth Management LLC raised its position in Trane Technologies by 1.5% in the 3rd quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock worth $686,000 after purchasing an additional 24 shares during the period. Finally, Confluence Wealth Services Inc. lifted its stake in Trane Technologies by 0.7% in the second quarter. Confluence Wealth Services Inc. now owns 3,609 shares of the company’s stock worth $1,579,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TT. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. UBS Group reduced their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Citigroup boosted their price objective on Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a report on Friday, October 31st. Finally, Bank of America upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $490.00 to $550.00 in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $479.73.

Trane Technologies Stock Performance

Shares of TT stock opened at $394.37 on Thursday. The firm has a market capitalization of $87.45 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 1.96 and a beta of 1.21. The stock has a fifty day moving average of $395.52 and a 200 day moving average of $415.00. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The company has a quick ratio of 0.84, a current ratio of 1.20 and a debt-to-equity ratio of 0.47.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.80 by $0.08. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.80 billion. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $3.37 EPS. As a group, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Company Profile

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.