First Citizens Bank & Trust Co. Buys 4,015 Shares of Trane Technologies plc $TT

Key Points

• First Citizens Bank & Trust Co. increased its Trane Technologies stake by 178.4% in the third quarter, purchasing 4,015 additional shares for a total holding valued at approximately $2.83 million.
• Institutional investors own 82.97% of Trane Technologies, while the stock recently traded at $471.43, below its 52-week high of $505.87.
• Trane Technologies exceeded quarterly earnings and revenue expectations, reporting $4.31 in EPS and $6.35 billion in revenue. Analysts maintain a “Moderate Buy” consensus with an average price target of $538.89, and the company announced a $1.05 quarterly dividend.

First Citizens Bank & Trust Co. lifted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 178.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,265 shares of the company's stock after purchasing an additional 4,015 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Trane Technologies were worth $2,832,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. SEB Asset Management AB bought a new stake in Trane Technologies during the 1st quarter valued at approximately $47,195,000. Nicholson Wealth Management Group LLC bought a new position in shares of Trane Technologies in the 1st quarter worth approximately $1,644,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Trane Technologies by 54.4% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,153 shares of the company's stock worth $41,321,000 after acquiring an additional 34,930 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in shares of Trane Technologies by 14.2% in the 1st quarter. Kestra Advisory Services LLC now owns 26,934 shares of the company's stock valued at $11,224,000 after purchasing an additional 3,348 shares during the period. Finally, KPP Advisory Services LLC purchased a new position in shares of Trane Technologies in the 1st quarter valued at approximately $855,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Price Performance

NYSE TT opened at $471.43 on Thursday. The company has a market capitalization of $103.72 billion, a PE ratio of 34.94, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.76 and a current ratio of 1.07. The business's fifty day moving average is $455.38 and its 200 day moving average is $462.69. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $4.31 EPS for the quarter, beating the consensus estimate of $4.27 by $0.04. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same period last year, the firm earned $3.88 EPS. The company's revenue was up 10.6% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. Sell-side analysts predict that Trane Technologies plc will post 15.31 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 4th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 4th. Trane Technologies's dividend payout ratio is 31.82%.

Analysts Set New Price Targets

Several research analysts recently issued reports on TT shares. The Goldman Sachs Group upgraded shares of Trane Technologies from a "neutral" rating to a "buy" rating and increased their price target for the stock from $548.00 to $565.00 in a research note on Wednesday. JPMorgan Chase & Co. assumed coverage on shares of Trane Technologies in a research note on Friday, October 9th. They set an "overweight" rating and a $550.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Trane Technologies from $515.00 to $499.00 and set a "hold" rating on the stock in a report on Wednesday, September 30th. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $496.00 to $502.00 and gave the company a "sector perform" rating in a research note on Wednesday. Finally, Citigroup lowered their target price on shares of Trane Technologies from $570.00 to $566.00 and set a "buy" rating for the company in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Trane Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $538.89.

Insider Buying and Selling at Trane Technologies

In other news, CEO David Regnery sold 48,091 shares of the firm's stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the completion of the transaction, the chief executive officer owned 96,951 shares in the company, valued at $46,536,480. This trade represents a 33.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.

About Trane Technologies

Trane Technologies plc is a global climate solutions company that develops and provides systems, equipment, services and controls for heating, ventilation, air conditioning and refrigeration. Its solutions are used in commercial buildings, industrial facilities, residential properties, data centers, transportation and other applications where temperature control and energy efficiency are important.

The company operates through two primary areas: Climate Solutions, which includes building heating and cooling systems, building controls, services and energy-management solutions; and Climate Solutions Transport, which provides refrigeration systems for trucks, trailers, shipping containers and other transportation applications.

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