Trane Technologies plc (NYSE:TT) Position Increased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lifted its position in Trane Technologies plc (NYSE:TT) by 22.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,062 shares of the company’s stock after acquiring an additional 198 shares during the period. First Citizens Bank & Trust Co.’s holdings in Trane Technologies were worth $349,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Motco purchased a new position in Trane Technologies during the 4th quarter valued at about $27,000. Sachetta LLC acquired a new position in Trane Technologies in the 4th quarter valued at approximately $27,000. GoalVest Advisory LLC lifted its position in Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after buying an additional 55 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Trane Technologies during the 1st quarter valued at $27,000. Finally, BOK Financial Private Wealth Inc. purchased a new position in shares of Trane Technologies during the 1st quarter valued at $30,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of several recent research reports. Royal Bank of Canada increased their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. TD Cowen raised their price target on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Barclays boosted their price target on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Finally, UBS Group boosted 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 assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus target price of $323.29.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $348.20 on Wednesday. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $351.41. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.74 and a current ratio of 1.17. The firm has a market cap of $78.82 billion, a P/E ratio of 37.14, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The firm’s 50-day simple moving average is $334.27 and its 200-day simple moving average is $313.12.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the previous year, the business earned $2.68 earnings per share. The company’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, research analysts expect that Trane Technologies plc will post 10.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, September 6th. This represents a $3.36 annualized dividend and a yield of 0.96%. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,243 shares of company stock valued at $14,216,550. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Company 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.