Private Trust Co. NA Increases Holdings in Trane Technologies plc (NYSE:TT)

Private Trust Co. NA increased its stake in shares of Trane Technologies plc (NYSE:TT) by 17.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 772 shares of the company’s stock after purchasing an additional 112 shares during the period. Private Trust Co. NA’s holdings in Trane Technologies were worth $285,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. First American Bank lifted its holdings in shares of Trane Technologies by 1.1% in the fourth quarter. First American Bank now owns 26,897 shares of the company’s stock worth $9,934,000 after buying an additional 296 shares in the last quarter. QRG Capital Management Inc. lifted its stake in Trane Technologies by 4.4% in the 4th quarter. QRG Capital Management Inc. now owns 45,327 shares of the company’s stock worth $16,741,000 after purchasing an additional 1,921 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in Trane Technologies by 47,293.6% in the 4th quarter. Proficio Capital Partners LLC now owns 253,082 shares of the company’s stock valued at $93,476,000 after purchasing an additional 252,548 shares during the period. Mn Services Vermogensbeheer B.V. grew its position in shares of Trane Technologies by 3.1% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 90,273 shares of the company’s stock valued at $33,342,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Simmons Bank increased its holdings in shares of Trane Technologies by 12.8% in the fourth quarter. Simmons Bank now owns 725 shares of the company’s stock worth $268,000 after purchasing an additional 82 shares during the period. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT opened at $345.30 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The stock’s 50 day simple moving average is $370.62 and its 200 day simple moving average is $380.68. The firm has a market cap of $77.45 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 2.50 and a beta of 1.05. Trane Technologies plc has a 1 year low of $279.00 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is currently 29.87%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TT shares. Barclays lifted their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Melius Research reissued a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Citigroup dropped their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Royal Bank of Canada increased their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $415.25.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the transaction, the chief financial officer now owns 63,841 shares in the company, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mairead Magner sold 4,329 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock worth $4,388,966 over the last 90 days. 0.38% of the stock is owned by company insiders.

Trane Technologies Company Profile

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.