Bangor Savings Bank Sells 383 Shares of Trane Technologies plc (NYSE:TT)

Bangor Savings Bank lowered its position in Trane Technologies plc (NYSE:TT) by 48.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 400 shares of the company’s stock after selling 383 shares during the period. Bangor Savings Bank’s holdings in Trane Technologies were worth $135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Secured Retirement Advisors LLC raised its stake in shares of Trane Technologies by 0.6% during the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock valued at $1,709,000 after acquiring an additional 28 shares in the last quarter. Kanawha Capital Management LLC grew its holdings in Trane Technologies by 0.6% in the fourth quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company’s stock worth $1,740,000 after purchasing an additional 29 shares during the last quarter. Kestra Private Wealth Services LLC grew its holdings in Trane Technologies by 0.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 9,173 shares of the company’s stock worth $3,388,000 after purchasing an additional 30 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Trane Technologies by 0.8% during the fourth quarter. Quadrant Capital Group LLC now owns 3,786 shares of the company’s stock valued at $1,398,000 after buying an additional 30 shares during the last quarter. Finally, TFC Financial Management Inc. grew its holdings in shares of Trane Technologies by 13.1% during the fourth quarter. TFC Financial Management Inc. now owns 277 shares of the company’s stock valued at $102,000 after buying an additional 32 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the transaction, the insider now owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.38% of the company’s stock.

Trane Technologies Trading Down 0.4%

Shares of Trane Technologies stock opened at $428.93 on Monday. The firm has a 50-day simple moving average of $382.93 and a two-hundred day simple moving average of $376.21. The company has a market cap of $95.66 billion, a P/E ratio of 38.13, a price-to-earnings-growth ratio of 2.50 and a beta of 1.16. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $436.61. 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 (NYSE:TT) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.94 earnings per share. As a group, equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company 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 $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.88%. Trane Technologies’s dividend payout ratio (DPR) is currently 31.28%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Barclays dropped 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. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a report on Thursday, May 1st. Robert W. Baird boosted their price objective on shares of Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Stephens raised shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target on the stock in a report on Thursday, May 1st. Finally, Hsbc Global Res raised shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $427.47.

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.