Trane Technologies plc (NYSE:TT) Shares Sold by City State Bank

City State Bank trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 14.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 346 shares of the company’s stock after selling 60 shares during the period. City State Bank’s holdings in Trane Technologies were worth $117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TT. Minot DeBlois Advisors LLC purchased a new stake in Trane Technologies during the 4th quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Trane Technologies in the fourth quarter worth $28,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Trane Technologies during the fourth quarter worth $37,000. Golden State Wealth Management LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at $39,000. Finally, NBC Securities Inc. acquired a new stake in shares of Trane Technologies in the first quarter valued at $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

Shares of TT stock opened at $428.93 on Friday. The stock’s 50-day moving average is $382.93 and its two-hundred day moving average is $376.49. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $436.61. The firm has a market cap of $95.66 billion, a price-to-earnings ratio of 38.13, a PEG ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.94 EPS. Analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies’s payout ratio is currently 31.28%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Royal Bank of Canada upped their price target on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Hsbc Global Res raised shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. HSBC upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Finally, Barclays reduced their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $427.47.

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.