PNC Financial Services Group Inc. Has $107.56 Million Holdings in Trane Technologies plc (NYSE:TT)

PNC Financial Services Group Inc. lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 291,214 shares of the company’s stock after buying an additional 1,687 shares during the quarter. PNC Financial Services Group Inc. owned about 0.13% of Trane Technologies worth $107,560,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays increased their target price on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. UBS Group cut their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Northcoast Research began coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $415.25.

Trane Technologies Trading Up 0.9 %

NYSE TT opened at $344.81 on Friday. The firm has a market capitalization of $77.34 billion, a PE ratio of 30.65, a P/E/G ratio of 2.50 and a beta of 1.08. The stock’s 50 day moving average is $367.96 and its 200 day moving average is $380.41. Trane Technologies plc has a twelve month low of $279.00 and a twelve month 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.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share 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%. Research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. Trane Technologies’s dividend payout ratio (DPR) is currently 29.87%.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the transaction, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,234 shares of company stock worth $2,588,102. 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.