First American Bank Cuts Position in Trane Technologies plc (NYSE:TT)

First American Bank cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,601 shares of the company’s stock after selling 395 shares during the quarter. First American Bank’s holdings in Trane Technologies were worth $10,341,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Empowered Funds LLC raised its position in Trane Technologies by 138.0% in the first quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after acquiring an additional 3,866 shares during the period. Nordea Investment Management AB raised its position in shares of Trane Technologies by 3.0% in the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock valued at $135,796,000 after purchasing an additional 13,078 shares during the period. Sei Investments Co. grew its stake in Trane Technologies by 379.2% during the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after acquiring an additional 242,271 shares in the last quarter. Albar Capital Ltd purchased a new position in Trane Technologies during the second quarter valued at approximately $14,556,000. Finally, M&G Plc purchased a new position in Trane Technologies during the first quarter valued at approximately $8,939,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Mizuho boosted their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Stephens reissued an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Barclays boosted their price target on shares of Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Robert W. Baird boosted their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $373.58.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $392.57 on Monday. The firm’s 50-day moving average price is $374.71 and its 200-day moving average price is $343.06. Trane Technologies plc has a 52-week low of $184.24 and a 52-week high of $406.96. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The company has a market cap of $88.59 billion, a PE ratio of 38.83, a PEG ratio of 2.70 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter last year, the business earned $2.68 EPS. The firm’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts anticipate that Trane Technologies plc will post 10.89 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 33.23%.

Insider Activity at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Trane Technologies 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.