Bangor Savings Bank Sells 321 Shares of Trane Technologies plc (NYSE:TT)

Bangor Savings Bank cut its stake in shares of Trane Technologies plc (NYSE:TT) by 29.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 783 shares of the company’s stock after selling 321 shares during the quarter. Bangor Savings Bank’s holdings in Trane Technologies were worth $235,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in shares of Trane Technologies in the fourth quarter valued at about $3,086,000. Wellington Management Group LLP boosted its position in Trane Technologies by 36.4% during the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after purchasing an additional 436,997 shares during the period. Capital World Investors boosted its position in shares of Trane Technologies by 0.6% in the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock valued at $530,870,000 after acquiring an additional 11,930 shares during the period. Stifel Financial Corp boosted its position in shares of Trane Technologies by 26.8% in the fourth quarter. Stifel Financial Corp now owns 99,611 shares of the company’s stock valued at $24,295,000 after acquiring an additional 21,040 shares during the period. Finally, Schroder Investment Management Group raised its stake in Trane Technologies by 11.9% in the fourth quarter. Schroder Investment Management Group now owns 322,994 shares of the company’s stock valued at $78,778,000 after purchasing an additional 34,243 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Trading Down 0.5 %

TT stock opened at $334.12 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. The business has a 50 day simple moving average of $321.15 and a two-hundred day simple moving average of $287.01. Trane Technologies plc has a 1-year low of $182.96 and a 1-year high of $345.46. The company has a market capitalization of $75.63 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 2.67 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 EPS. Research analysts anticipate that Trane Technologies plc will post 10.46 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Friday, September 6th. Trane Technologies’s payout ratio is currently 35.90%.

Analyst Upgrades and Downgrades

Several research analysts have commented on TT shares. Citigroup lifted their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Barclays lifted their price target on shares of Trane Technologies from $354.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. Finally, UBS Group lifted their price target on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $309.79.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the sale, the senior vice president now directly owns 20,758 shares in the company, valued at approximately $6,669,545.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the sale, the chief financial officer now directly owns 61,293 shares in the company, valued at approximately $19,532,240.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

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.