Truist Financial Corp Has $136.59 Million Position in Trane Technologies plc (NYSE:TT)

Truist Financial Corp reduced its holdings in Trane Technologies plc (NYSE:TT) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 369,823 shares of the company’s stock after selling 3,566 shares during the period. Truist Financial Corp owned approximately 0.16% of Trane Technologies worth $136,594,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies in the third quarter valued at approximately $27,000. Global Wealth Strategies & Associates acquired a new stake in Trane Technologies in the fourth quarter worth $26,000. DT Investment Partners LLC acquired a new stake in Trane Technologies in the third quarter worth $36,000. Sound Income Strategies LLC raised its holdings in Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares during the period. Finally, Pittenger & Anderson Inc. acquired a new stake in Trane Technologies in the third quarter worth $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Up 0.6 %

Trane Technologies stock opened at $363.58 on Monday. The company has a market cap of $81.81 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 2.44 and a beta of 1.05. Trane Technologies plc has a 1-year low of $270.50 and a 1-year high of $422.00. The company has a fifty day simple moving average of $378.44 and a 200 day simple moving average of $378.78. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is 29.87%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a report on Thursday, October 31st. Melius Research reiterated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Citigroup cut their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada increased their target price 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. Finally, Wells Fargo & Company dropped their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $415.25.

Insider Activity

In other news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the transaction, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. This trade represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,563 shares of company stock valued at $4,388,966 in the last quarter. Company insiders own 0.38% of the company’s stock.

About Trane Technologies

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.