Trane Technologies plc (NYSE:TT) Shares Sold by First Hawaiian Bank

First Hawaiian Bank trimmed its position in Trane Technologies plc (NYSE:TT - Free Report) by 9.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,753 shares of the company's stock after selling 1,803 shares during the period. First Hawaiian Bank's holdings in Trane Technologies were worth $5,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in TT. Brighton Jones LLC grew its position in Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after purchasing an additional 2,323 shares during the period. RFG Advisory LLC grew its position in Trane Technologies by 24.1% during the 4th quarter. RFG Advisory LLC now owns 763 shares of the company's stock worth $282,000 after purchasing an additional 148 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Trane Technologies by 30.5% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,576 shares of the company's stock worth $582,000 after purchasing an additional 368 shares during the period. KBC Group NV grew its position in Trane Technologies by 9.8% during the 4th quarter. KBC Group NV now owns 56,476 shares of the company's stock worth $20,860,000 after purchasing an additional 5,058 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of Trane Technologies by 8.0% during the 4th quarter. Pacer Advisors Inc. now owns 18,066 shares of the company's stock valued at $6,673,000 after acquiring an additional 1,341 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Trane Technologies

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

Trane Technologies Trading Down 0.5%

Shares of TT stock traded down $2.12 during trading on Friday, hitting $430.17. 2,264,866 shares of the stock traded hands, compared to its average volume of 1,357,258. The firm has a market capitalization of $95.94 billion, a P/E ratio of 38.24, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The firm's fifty day moving average price is $373.99 and its 200-day moving average price is $376.03. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $436.61.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.94 EPS. As a group, research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 0.87%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TT. Robert W. Baird lifted their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Barclays reduced their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. 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 research note on Thursday, May 1st. Royal Bank of Canada raised their price target on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. Finally, HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and raised their price target for the company from $405.00 to $415.00 in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Trane Technologies presently has an average rating of "Moderate Buy" and an average price target 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.