Whittier Trust Co. Raises Holdings in Trane Technologies plc (NYSE:TT)

Whittier Trust Co. lifted its stake in Trane Technologies plc (NYSE:TTFree Report) by 39.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,460 shares of the company’s stock after buying an additional 984 shares during the quarter. Whittier Trust Co.’s holdings in Trane Technologies were worth $844,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. OneAscent Financial Services LLC boosted its position in Trane Technologies by 18.2% during the fourth quarter. OneAscent Financial Services LLC now owns 3,377 shares of the company’s stock worth $824,000 after purchasing an additional 521 shares in the last quarter. BKM Wealth Management LLC purchased a new position in Trane Technologies during the fourth quarter worth approximately $25,000. Raymond James Trust N.A. boosted its position in Trane Technologies by 5.8% during the fourth quarter. Raymond James Trust N.A. now owns 20,927 shares of the company’s stock worth $5,104,000 after purchasing an additional 1,148 shares in the last quarter. City Holding Co. boosted its position in Trane Technologies by 7.0% during the fourth quarter. City Holding Co. now owns 16,159 shares of the company’s stock worth $3,941,000 after purchasing an additional 1,063 shares in the last quarter. Finally, Mechanics Bank Trust Department purchased a new position in Trane Technologies during the fourth quarter worth approximately $210,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the sale, the chief financial officer now owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the sale, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at $11,345,214.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the sale, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The disclosure for this sale can be found here. Insiders sold a total of 29,874 shares of company stock valued at $8,462,825 over the last quarter. 0.39% of the stock is owned by insiders.

Trane Technologies Price Performance

NYSE:TT opened at $300.29 on Friday. The stock has a 50 day moving average price of $273.88 and a 200 day moving average price of $237.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. The stock has a market cap of $68.19 billion, a PE ratio of 34.16, a P/E/G ratio of 2.38 and a beta of 1.05. Trane Technologies plc has a one year low of $162.04 and a one year high of $305.00.

Trane Technologies (NYSE:TTGet Free Report) last posted its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.04. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.82 earnings per share. Equities research analysts expect that Trane Technologies plc will post 10.18 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be paid a dividend of $0.84 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, February 29th. This represents a $3.36 annualized dividend and a yield of 1.12%. Trane Technologies’s dividend payout ratio (DPR) is 38.23%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TT. Stephens increased their price target on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Citigroup raised their target price on Trane Technologies from $246.00 to $269.00 and gave the company a “buy” rating in a research report on Monday, December 11th. Wells Fargo & Company raised their target price on Trane Technologies from $200.00 to $246.00 and gave the company an “underweight” rating in a research report on Tuesday, December 19th. Royal Bank of Canada raised their target price on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Finally, The Goldman Sachs Group raised their target price on Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus target price of $232.31.

View Our Latest Research Report on TT

About Trane Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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