Trane Technologies plc (NYSE:TT) Shares Purchased by Simmons Bank

Simmons Bank grew its holdings in Trane Technologies plc (NYSE:TT) by 5.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 718 shares of the company’s stock after buying an additional 38 shares during the quarter. Simmons Bank’s holdings in Trane Technologies were worth $236,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of TT. Vanguard Group Inc. grew its holdings in shares of Trane Technologies by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after acquiring an additional 174,251 shares during the period. JPMorgan Chase & Co. increased its holdings in Trane Technologies by 0.5% during the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock valued at $5,221,599,000 after acquiring an additional 80,536 shares in the last quarter. Norges Bank acquired a new position in Trane Technologies during the fourth quarter worth about $655,804,000. Capital World Investors lifted its holdings 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 purchasing an additional 11,930 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Trane Technologies by 17.3% during the 4th quarter. Franklin Resources Inc. now owns 1,655,459 shares of the company’s stock worth $403,766,000 after purchasing an additional 243,996 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were 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 of the company’s stock, valued at approximately $27,447,862.05. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO David S. Regnery sold 29,450 shares of the firm’s 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 sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the company’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 transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,243 shares of company stock valued at $14,216,550. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Robert W. Baird increased their target price on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Barclays lifted their price objective on Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Wells Fargo & Company upped their target price on shares of Trane Technologies from $310.00 to $315.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. TD Cowen boosted their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Stephens restated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average price target of $323.29.

Trane Technologies Price Performance

Trane Technologies stock opened at $352.32 on Thursday. The firm has a fifty day moving average of $335.93 and a 200-day moving average of $315.92. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $355.02. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $79.75 billion, a P/E ratio of 37.64, a PEG ratio of 2.50 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $5.13 billion. During the same period last year, the company posted $2.68 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts predict that Trane Technologies plc will post 10.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.95%. Trane Technologies’s dividend payout ratio is currently 35.90%.

Trane Technologies 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.