Trane Technologies plc (NYSE:TT) Shares Bought by Truist Financial Corp

Truist Financial Corp raised its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 3.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 382,390 shares of the company's stock after purchasing an additional 12,567 shares during the period. Truist Financial Corp owned about 0.17% of Trane Technologies worth $128,835,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in TT. WFA Asset Management Corp raised its position in shares of Trane Technologies by 208.3% in the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at approximately $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Trane Technologies in the 1st quarter valued at approximately $31,000. Finally, Tradewinds Capital Management LLC raised its position in shares of Trane Technologies by 46.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after purchasing an additional 30 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TT has been the topic of a number of recent analyst reports. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. upped their price target on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Royal Bank Of Canada upped their price target on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Wells Fargo & Company upped their price target on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research report on Tuesday. Finally, Robert W. Baird upped their price target on Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research report 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $430.13.

Trane Technologies Price Performance

Shares of NYSE TT opened at $439.64 on Friday. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $438.15. 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 business's fifty day moving average price is $420.30 and its two-hundred day moving average price is $379.26. The firm has a market capitalization of $98.05 billion, a PE ratio of 36.58, a P/E/G ratio of 2.88 and a beta of 1.15.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping 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 return on equity of 36.10% and a net margin of 13.47%. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the company earned $1.94 earnings per share. On average, research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is 31.28%.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the firm's 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 transaction, the insider directly owned 3,593 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.38% of the company's stock.

Trane Technologies 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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