Parkside Financial Bank & Trust Boosts Stock Position in Trane Technologies plc (NYSE:TT)

Parkside Financial Bank & Trust grew its stake in shares of Trane Technologies plc (NYSE:TT) by 13.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 739 shares of the company’s stock after buying an additional 88 shares during the period. Parkside Financial Bank & Trust’s holdings in Trane Technologies were worth $180,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Keel Point LLC lifted its position in shares of Trane Technologies by 3.0% during the 4th quarter. Keel Point LLC now owns 1,326 shares of the company’s stock valued at $323,000 after buying an additional 39 shares in the last quarter. Rosenberg Matthew Hamilton lifted its position in shares of Trane Technologies by 27.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after buying an additional 41 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Trane Technologies by 2.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock valued at $450,000 after buying an additional 42 shares in the last quarter. Cedrus LLC lifted its position in shares of Trane Technologies by 2.6% during the 4th quarter. Cedrus LLC now owns 1,669 shares of the company’s stock valued at $407,000 after buying an additional 43 shares in the last quarter. Finally, Certuity LLC lifted its position in shares of Trane Technologies by 3.1% during the 3rd quarter. Certuity LLC now owns 1,549 shares of the company’s stock valued at $314,000 after buying an additional 46 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Trane Technologies

In other news, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction that occurred 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 transaction, the senior vice president now owns 42,374 shares in the company, valued at approximately $11,345,214.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction that occurred 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 transaction, the senior vice president now owns 42,374 shares in the company, valued at approximately $11,345,214.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the transaction, the chief financial officer now owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,874 shares of company stock worth $8,462,825. 0.39% of the stock is currently owned by company insiders.

Trane Technologies Stock Performance

NYSE:TT opened at $296.49 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $306.98. The stock’s 50 day simple moving average is $291.04 and its two-hundred day simple moving average is $253.23. The company has a market cap of $67.32 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 2.49 and a beta of 1.05.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 EPS. As a group, equities analysts anticipate that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is 38.23%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TT shares. The Goldman Sachs Group lifted their target price on Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Royal Bank of Canada lifted their target price on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Citigroup lifted their target price on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Stephens lifted their target price on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Barclays lifted their target price on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $251.83.

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.