Orrstown Financial Services Inc. Takes Position in Trane Technologies plc (NYSE:TT)

Orrstown Financial Services Inc. acquired a new stake in Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 538 shares of the company’s stock, valued at approximately $209,000.

Several other institutional investors and hedge funds have also modified their holdings of TT. BOK Financial Private Wealth Inc. purchased a new position in shares of Trane Technologies in the 1st quarter valued at about $30,000. DT Investment Partners LLC purchased a new position in shares of Trane Technologies in the 3rd quarter valued at about $36,000. Fortitude Family Office LLC increased its stake in shares of Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in shares of Trane Technologies in the 2nd quarter valued at about $39,000. Finally, Quarry LP purchased a new position in shares of Trane Technologies in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $42,708,902.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Royal Bank of Canada lifted their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Barclays boosted their price objective on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group boosted their price objective on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Morgan Stanley began coverage on Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective for the company. Finally, Robert W. Baird boosted their price objective on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $373.58.

Trane Technologies Price Performance

TT stock opened at $391.03 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. The business has a 50 day simple moving average of $376.49 and a 200-day simple moving average of $344.40. The firm has a market capitalization of $88.51 billion, a PE ratio of 41.78, a price-to-earnings-growth ratio of 2.70 and a beta of 1.01. Trane Technologies plc has a 1 year low of $185.75 and a 1 year high of $406.96.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.68 earnings per share. Equities research analysts anticipate that Trane Technologies plc will post 10.89 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

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.