Huntington National Bank Has $1.98 Million Stake in Trane Technologies plc $TT

Huntington National Bank lowered its position in Trane Technologies plc (NYSE:TT) by 22.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,697 shares of the company’s stock after selling 1,385 shares during the quarter. Huntington National Bank’s holdings in Trane Technologies were worth $1,982,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Y Intercept Hong Kong Ltd bought a new position in shares of Trane Technologies during the third quarter worth approximately $6,571,000. Nordea Investment Management AB grew its position in Trane Technologies by 2.4% during the third quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock worth $1,051,049,000 after buying an additional 57,774 shares in the last quarter. Boston Common Asset Management LLC bought a new position in Trane Technologies during the 3rd quarter worth $9,546,000. Compass Wealth Management LLC raised its holdings in Trane Technologies by 3,785.4% in the 3rd quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock valued at $11,476,000 after acquiring an additional 26,498 shares in the last quarter. Finally, Tred Avon Family Wealth LLC bought a new stake in shares of Trane Technologies during the 3rd quarter valued at $1,530,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 30th. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a report on Wednesday, January 7th. UBS Group reduced their price target on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Finally, Citigroup boosted their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 5,588 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.60, for a total value of $2,585,008.80. Following the completion of the transaction, the chief executive officer owned 96,948 shares of the company’s stock, valued at $44,848,144.80. This represents a 5.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Elizabeth A. Elwell sold 137 shares of Trane Technologies stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.48, for a total value of $63,359.76. Following the sale, the chief accounting officer directly owned 7,100 shares in the company, valued at $3,283,608. The trade was a 1.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,936 shares of company stock worth $4,133,991 in the last 90 days. 0.14% of the stock is currently owned by company insiders.

Trane Technologies Trading Up 1.0%

Shares of Trane Technologies stock opened at $461.71 on Monday. The firm’s 50 day moving average is $417.67 and its 200 day moving average is $416.42. The firm has a market capitalization of $102.19 billion, a PE ratio of 35.57, a price-to-earnings-growth ratio of 2.43 and a beta of 1.19. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $479.37. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the business posted $2.61 earnings per share. Equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is presently 28.97%.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.