NBT Bank N A NY Decreases Stock Position in Trane Technologies plc (NYSE:TT)

NBT Bank N A NY decreased its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,201 shares of the company's stock after selling 676 shares during the period. Trane Technologies comprises approximately 1.5% of NBT Bank N A NY's portfolio, making the stock its 13th largest position. NBT Bank N A NY's holdings in Trane Technologies were worth $20,283,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TT. Consilium Wealth Advisory LLC raised its holdings in Trane Technologies by 12.6% in the first quarter. Consilium Wealth Advisory LLC now owns 6,944 shares of the company's stock valued at $2,340,000 after acquiring an additional 777 shares in the last quarter. Inscription Capital LLC acquired a new stake in Trane Technologies in the first quarter valued at approximately $228,000. Signature Wealth Management Group raised its holdings in Trane Technologies by 3.9% in the first quarter. Signature Wealth Management Group now owns 4,560 shares of the company's stock valued at $1,536,000 after acquiring an additional 170 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Trane Technologies by 1.2% in the first quarter. QRG Capital Management Inc. now owns 45,884 shares of the company's stock valued at $15,459,000 after acquiring an additional 557 shares in the last quarter. Finally, Sagespring Wealth Partners LLC increased its stake in Trane Technologies by 10.9% in the first quarter. Sagespring Wealth Partners LLC now owns 9,193 shares of the company's stock valued at $3,097,000 after purchasing an additional 906 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the company'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 transaction, the insider now directly owns 3,593 shares of the company's stock, valued at $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TT shares. JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and increased their price target for the company from $405.00 to $415.00 in a research note on Friday, April 25th. Barclays dropped their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Citigroup increased their price target on shares of Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Stephens upgraded 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Trane Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $427.47.

Trane Technologies Stock Performance

Shares of TT traded down $2.32 during mid-day trading on Wednesday, reaching $419.63. 1,708,536 shares of the company's stock were exchanged, compared to its average volume of 1,346,962. 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 stock has a market capitalization of $93.59 billion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16. The business's fifty day simple moving average is $396.52 and its 200-day simple moving average is $376.85. 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 posted its quarterly earnings data 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 net margin of 13.47% and a return on equity of 36.10%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the firm posted $1.94 EPS. Trane Technologies's quarterly revenue was up 11.2% on a year-over-year basis. On average, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a $0.94 dividend. 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 0.90%. Trane Technologies's dividend payout ratio (DPR) is 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.