M&T Bank Corp Sells 4,884 Shares of Trane Technologies plc (NYSE:TT)

M&T Bank Corp reduced its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 98,824 shares of the company's stock after selling 4,884 shares during the quarter. M&T Bank Corp's holdings in Trane Technologies were worth $33,295,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Trane Technologies in the 4th quarter worth about $1,117,816,000. GAMMA Investing LLC increased its stake in shares of Trane Technologies by 35,458.2% in the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock valued at $679,161,000 after buying an additional 2,010,123 shares during the period. Northern Trust Corp increased its stake in shares of Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock valued at $948,316,000 after buying an additional 429,953 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $147,251,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $137,999,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TT has been the subject of several recent research reports. Royal Bank Of Canada increased their price target on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a research note on Thursday, May 1st. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Citigroup raised their target price on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Robert W. Baird raised their target price on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $430.13.

Trane Technologies Trading Down 0.7%

Shares of Trane Technologies stock opened at $434.11 on Tuesday. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $438.95. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. The stock has a 50 day moving average price of $421.95 and a two-hundred day moving average price of $379.68. The stock has a market capitalization of $96.82 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 2.88 and a beta of 1.15.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter last year, the company earned $1.94 earnings per share. The company's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.87%. Trane Technologies's dividend payout ratio (DPR) is currently 31.28%.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the sale, the insider directly owned 3,593 shares in the company, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.38% of the company's stock.

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.

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