Private Trust Co. NA Buys 112 Shares of Trane Technologies plc (NYSE:TT)

Private Trust Co. NA boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 17.0% in the fourth quarter, Holdings Channel reports. 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 hedge funds have also added to or reduced their stakes in the stock. Global Wealth Strategies & Associates bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Trane Technologies during the 3rd quarter valued at $27,000. Sound Income Strategies LLC increased its holdings in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares in the last quarter. Pittenger & Anderson Inc. purchased a new position in shares of Trane Technologies in the third quarter worth $39,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at $39,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Down 2.4 %

NYSE TT opened at $345.30 on Tuesday. Trane Technologies plc has a 52 week low of $279.00 and a 52 week high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $77.45 billion, a P/E ratio of 30.69, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. The stock’s 50-day moving average price is $370.62 and its 200-day moving average price is $380.68.

Trane Technologies (NYSE:TT) last released 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%. On average, equities 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. Trane Technologies’s dividend payout ratio (DPR) is currently 29.87%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TT shares. Melius Research reiterated a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Royal Bank of Canada lifted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research report on Tuesday, January 28th. Northcoast Research began coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. Finally, Wells Fargo & Company lowered their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average target price of $415.25.

Insiders Place Their Bets

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the transaction, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares of the company’s stock, 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 sold 11,563 shares of company stock valued at $4,388,966 over the last three months. 0.38% of the stock is owned by company 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.