Mediolanum International Funds Ltd Has $18.37 Million Holdings in Trane Technologies plc $TT

Mediolanum International Funds Ltd lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 26.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 44,319 shares of the company’s stock after buying an additional 9,269 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Trane Technologies were worth $18,365,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in TT. Financial Consulate Inc. bought a new position in shares of Trane Technologies in the third quarter valued at $25,000. Icon Advisers Inc. Co. bought a new position in shares of Trane Technologies during the 2nd quarter valued at approximately $26,000. Ameriflex Group Inc. purchased a new stake in Trane Technologies in the second quarter worth $28,000. Hantz Financial Services Inc. increased its holdings in Trane Technologies by 1,016.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after acquiring an additional 61 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC raised its position in shares of Trane Technologies by 34.2% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after purchasing an additional 26 shares during the period. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Trane Technologies stock opened at $420.34 on Monday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $93.21 billion, a P/E ratio of 32.38, a PEG ratio of 2.11 and a beta of 1.21. The stock’s 50 day moving average is $396.23 and its 200 day moving average is $414.64.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.81 by $0.05. The business had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.61 earnings per share. On average, equities research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TT has been the topic of a number of analyst reports. Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price for the company in a research report on Monday, December 15th. Barclays increased their price target on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research report on Friday. Morgan Stanley lowered their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies 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.