First Bank & Trust Acquires 791 Shares of Trane Technologies plc (NYSE:TT)

First Bank & Trust grew its holdings in shares of Trane Technologies plc (NYSE:TT) by 119.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,453 shares of the company’s stock after acquiring an additional 791 shares during the period. First Bank & Trust’s holdings in Trane Technologies were worth $537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of TT. Swedbank AB grew its position in shares of Trane Technologies by 2.8% during the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after acquiring an additional 20,400 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Trane Technologies by 26.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 67,925 shares of the company’s stock valued at $26,404,000 after acquiring an additional 14,273 shares during the period. Whittier Trust Co. grew its position in shares of Trane Technologies by 2.9% during the 3rd quarter. Whittier Trust Co. now owns 3,559 shares of the company’s stock valued at $1,383,000 after acquiring an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in Trane Technologies by 12.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,152 shares of the company’s stock worth $837,000 after buying an additional 232 shares during the period. Finally, Raleigh Capital Management Inc. boosted its holdings in Trane Technologies by 9.6% in the 3rd quarter. Raleigh Capital Management Inc. now owns 458 shares of the company’s stock worth $178,000 after buying an additional 40 shares during the period. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $370.04 on Thursday. The firm has a market cap of $83.00 billion, a PE ratio of 32.89, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05. The firm’s 50 day simple moving average is $376.38 and its 200-day simple moving average is $379.24. Trane Technologies plc has a one year low of $270.50 and a one year high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping 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%. As a group, equities analysts predict that Trane Technologies plc will post 12.83 EPS 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 dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.02%. Trane Technologies’s dividend payout ratio (DPR) is 29.87%.

Insider Activity at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The stock was 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 in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,563 shares of company stock valued at $4,388,966 over the last ninety days. 0.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TT. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. Melius Research reiterated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Barclays boosted their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Wells Fargo & Company decreased their target price 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. Finally, Robert W. Baird decreased their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $415.25.

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.