Coastline Trust Co Buys 2,417 Shares of Trane Technologies plc $TT

Coastline Trust Co boosted its position in Trane Technologies plc (NYSE:TT) by 4,240.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,474 shares of the company’s stock after purchasing an additional 2,417 shares during the period. Coastline Trust Co’s holdings in Trane Technologies were worth $963,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Trane Technologies by 10.2% in the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after buying an additional 1,433,563 shares during the period. State Street Corp lifted its position in shares of Trane Technologies by 0.3% during the 2nd quarter. State Street Corp now owns 10,077,267 shares of the company’s stock valued at $4,407,904,000 after buying an additional 31,826 shares during the last quarter. Norges Bank bought a new position in shares of Trane Technologies during the 2nd quarter worth $1,356,065,000. Nordea Investment Management AB increased its holdings in Trane Technologies by 2.4% in the 3rd quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock worth $1,051,049,000 after acquiring an additional 57,774 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Trane Technologies by 9.2% in the 3rd quarter. Bank of America Corp DE now owns 2,422,690 shares of the company’s stock valued at $1,022,278,000 after acquiring an additional 203,766 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 2,389 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the completion of the transaction, the chief financial officer directly owned 60,486 shares in the company, valued at $27,986,872.20. The trade was a 3.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Donald E. Simmons sold 3,762 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,614,291.30. The trade was a 49.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 49,378 shares of company stock valued at $21,228,464 in the last quarter. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TT has been the topic of several recent research reports. Oppenheimer upped their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target on the stock in a research report on Wednesday, January 7th. Citigroup raised their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a report on Friday, January 30th. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective for the company in a research note on Monday, December 15th. Finally, Barclays boosted their target price on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Stock Down 0.9%

TT stock opened at $422.99 on Friday. The stock has a 50-day simple moving average of $429.67 and a two-hundred day simple moving average of $417.28. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37. The firm has a market capitalization of $93.62 billion, a PE ratio of 32.59, a PEG ratio of 2.25 and a beta of 1.19. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the prior year, the firm posted $2.61 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a $1.05 dividend. The ex-dividend date is Friday, March 6th. This represents a $4.20 annualized dividend and a yield of 1.0%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is currently 32.36%.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.