PNC Financial Services Group Inc. Buys 1,687 Shares of Trane Technologies plc (NYSE:TT)

PNC Financial Services Group Inc. lifted its stake in Trane Technologies plc (NYSE:TT) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 291,214 shares of the company’s stock after purchasing an additional 1,687 shares during the period. PNC Financial Services Group Inc.’s holdings in Trane Technologies were worth $107,560,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Cobblestone Capital Advisors LLC NY grew its stake in shares of Trane Technologies by 1.8% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock valued at $579,000 after purchasing an additional 27 shares during the period. Wescott Financial Advisory Group LLC boosted its holdings in shares of Trane Technologies by 1.7% in the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after buying an additional 28 shares during the last quarter. Secured Retirement Advisors LLC increased its holdings in Trane Technologies by 0.6% during the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock valued at $1,709,000 after buying an additional 28 shares during the last quarter. First Citizens Financial Corp raised its position in Trane Technologies by 4.6% in the fourth quarter. First Citizens Financial Corp now owns 656 shares of the company’s stock worth $242,000 after acquiring an additional 29 shares during the period. Finally, Catalina Capital Group LLC boosted its stake in shares of Trane Technologies by 3.2% during the 4th quarter. Catalina Capital Group LLC now owns 924 shares of the company’s stock worth $341,000 after acquiring an additional 29 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the sale, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock worth $2,588,102 in the last three months. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wells Fargo & Company reduced their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. UBS Group reduced their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Barclays boosted their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada increased their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Finally, Citigroup lowered their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $415.25.

Trane Technologies Trading Up 0.9 %

Shares of TT stock opened at $344.81 on Friday. The company has a market cap of $77.34 billion, a PE ratio of 30.65, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 1 year low of $279.00 and a 1 year high of $422.00. The stock’s 50 day simple moving average is $367.96 and its two-hundred day simple moving average is $380.41. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Research 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a 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 payout ratio is 29.87%.

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.