Pinnacle Financial Partners Inc Has $1.86 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Pinnacle Financial Partners Inc lifted its position in shares of Trane Technologies plc (NYSE:TT) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,035 shares of the company’s stock after purchasing an additional 326 shares during the period. Pinnacle Financial Partners Inc’s holdings in Trane Technologies were worth $1,860,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Global Wealth Strategies & Associates acquired a new position in shares of Trane Technologies during the 4th quarter worth about $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Trane Technologies during the 3rd quarter worth about $27,000. DT Investment Partners LLC acquired a new position in shares of Trane Technologies during the 3rd quarter worth about $36,000. Sound Income Strategies LLC increased its stake in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares during the last quarter. Finally, Pittenger & Anderson Inc. acquired a new position in shares of Trane Technologies during the 3rd quarter worth about $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TT shares. Barclays upped their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Royal Bank of Canada upped their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Northcoast Research started coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target on the stock. Finally, UBS Group decreased their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus price target of $415.25.

Trane Technologies Stock Performance

NYSE TT opened at $354.56 on Friday. The firm has a 50-day moving average price of $374.82 and a two-hundred day moving average price of $379.83. Trane Technologies plc has a 12-month low of $279.00 and a 12-month high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $79.52 billion, a P/E ratio of 31.52, a P/E/G ratio of 2.50 and a beta of 1.05.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is 29.87%.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. This represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the transaction, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,563 shares of company stock valued at $4,388,966. Company insiders own 0.38% of the company’s stock.

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.