Trane Technologies plc $TT Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 3.8% in the third quarter, Holdings Channel.com reports. The firm owned 94,003 shares of the company’s stock after selling 3,694 shares during the period. M&T Bank Corp’s holdings in Trane Technologies were worth $39,666,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC grew its stake in shares of Trane Technologies by 169.8% during the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock valued at $6,219,000 after acquiring an additional 9,276 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Trane Technologies in the third quarter worth about $6,571,000. Nordea Investment Management AB boosted its holdings in Trane Technologies by 2.4% in the third quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock valued at $1,051,049,000 after purchasing an additional 57,774 shares during the last quarter. Boston Common Asset Management LLC acquired a new stake in Trane Technologies during the 3rd quarter valued at approximately $9,546,000. Finally, Compass Wealth Management LLC grew its stake in Trane Technologies by 3,785.4% during the 3rd quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock valued at $11,476,000 after purchasing an additional 26,498 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,389 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total value of $1,105,390.30. Following the completion of the transaction, the chief financial officer directly owned 60,486 shares in the company, valued at $27,986,872.20. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David S. Regnery sold 36,045 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the transaction, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at $40,978,950.12. This trade represents a 27.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 49,378 shares of company stock worth $21,228,464 in the last quarter. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TT. Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a research report on Wednesday, January 7th. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a research note on Monday, December 15th. Morgan Stanley cut their price target on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Royal Bank Of Canada increased their price objective on shares of Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Finally, UBS Group decreased their price objective on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Trane Technologies has an average rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Price Performance

Shares of NYSE TT opened at $422.66 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $93.55 billion, a price-to-earnings ratio of 32.56, a price-to-earnings-growth ratio of 2.22 and a beta of 1.19. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37. The business has a 50 day simple moving average of $426.27 and a 200-day simple moving average of $417.25.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period last year, the business posted $2.61 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a $1.05 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio (DPR) is presently 32.36%.

Trane Technologies Company Profile

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.