Trane Technologies plc (NYSE:TT) Position Increased by Fulton Bank N.A.

Fulton Bank N.A. increased its stake in Trane Technologies plc (NYSE:TT) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,427 shares of the company’s stock after purchasing an additional 309 shares during the period. Fulton Bank N.A.’s holdings in Trane Technologies were worth $1,127,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TT. Vanguard Group Inc. increased its position in Trane Technologies by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after acquiring an additional 174,251 shares during the period. JPMorgan Chase & Co. increased its position in shares of 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 purchasing an additional 80,536 shares during the period. Norges Bank acquired a new position in shares of Trane Technologies during the 4th quarter valued at $655,804,000. Capital World Investors increased its position in shares of Trane Technologies by 0.6% during the 4th 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 during the period. Finally, Alphinity Investment Management Pty Ltd increased its position in shares of Trane Technologies by 11.4% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,018,431 shares of the company’s stock valued at $492,295,000 after purchasing an additional 205,882 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of recent research reports. Robert W. Baird lifted their target price on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. UBS Group boosted their target price on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Royal Bank of Canada boosted their target price 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. Finally, Mizuho boosted their target price on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. 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 stock. According to data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and a consensus target price of $323.29.

Insider Buying and Selling at Trane Technologies

In other news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the transaction, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the transaction, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the transaction, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE TT traded up $8.70 during trading hours on Tuesday, hitting $322.91. 1,295,469 shares of the company’s stock were exchanged, compared to its average volume of 1,138,532. Trane Technologies plc has a 1-year low of $184.02 and a 1-year high of $351.41. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.74. The stock has a market capitalization of $72.87 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 2.50 and a beta of 1.01. The company’s 50-day moving average price is $331.08 and its 200-day moving average price is $307.40.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.08 by $0.22. The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.68 EPS. On average, sell-side analysts expect that Trane Technologies plc will post 10.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a yield of 1.04%. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

About Trane Technologies

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.