Oakworth Capital Inc. Increases Stake in Trane Technologies plc (NYSE:TT)

Oakworth Capital Inc. lifted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 681.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,688 shares of the company's stock after acquiring an additional 1,472 shares during the quarter. Oakworth Capital Inc.'s holdings in Trane Technologies were worth $569,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. raised its stake in shares of Trane Technologies by 28.1% during the 1st quarter. Achmea Investment Management B.V. now owns 199,225 shares of the company's stock worth $67,123,000 after buying an additional 43,680 shares in the last quarter. Transcend Capital Advisors LLC acquired a new stake in Trane Technologies in the first quarter valued at $1,182,000. Trust Co. of Vermont boosted its position in shares of Trane Technologies by 35.3% during the 1st quarter. Trust Co. of Vermont now owns 138 shares of the company's stock worth $46,000 after purchasing an additional 36 shares in the last quarter. Perpetual Ltd grew its stake in shares of Trane Technologies by 276.7% during the 1st quarter. Perpetual Ltd now owns 2,332 shares of the company's stock worth $786,000 after purchasing an additional 1,713 shares during the period. Finally, PDS Planning Inc increased its holdings in shares of Trane Technologies by 9.7% in the 1st quarter. PDS Planning Inc now owns 1,162 shares of the company's stock valued at $392,000 after purchasing an additional 103 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Barclays lowered their target price on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Royal Bank Of Canada boosted their target price on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a research report on Thursday, May 1st. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $427.47.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the transaction, the insider now directly owns 3,593 shares of the company's stock, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Performance

Trane Technologies stock opened at $429.29 on Friday. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $436.61. The stock's 50-day moving average is $408.31 and its 200-day moving average is $377.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The company has a market cap of $95.74 billion, a price-to-earnings ratio of 35.71, a price-to-earnings-growth ratio of 2.81 and a beta of 1.16.

Trane Technologies (NYSE:TT - Get Free Report) last announced its 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 business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The company's revenue was up 11.2% on a year-over-year basis. During the same period last year, the business posted $1.94 EPS. Equities analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid 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 0.88%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Trane Technologies Company Profile

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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