Park National Corp OH Trims Stock Position in Trane Technologies plc (NYSE:TT)

Park National Corp OH decreased its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 4.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,003 shares of the company's stock after selling 636 shares during the quarter. Park National Corp OH's holdings in Trane Technologies were worth $4,381,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Global Wealth Strategies & Associates grew its stake in Trane Technologies by 470.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 399 shares of the company's stock valued at $134,000 after acquiring an additional 329 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Trane Technologies by 28.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 951 shares of the company's stock valued at $320,000 after purchasing an additional 213 shares in the last quarter. DSG Capital Advisors LLC purchased a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $6,525,000. 111 Capital purchased a new stake in Trane Technologies in the 4th quarter valued at $1,724,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Trane Technologies by 37.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 81,325 shares of the company's stock valued at $30,037,000 after buying an additional 22,233 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company upped their target price on Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a report on Thursday, May 1st. Robert W. Baird upped their price objective on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Stephens raised shares of 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 raised 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. Finally, JPMorgan Chase & Co. increased their price objective on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $427.47.

Insider Activity

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction dated 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 completion of the sale, the insider now directly owns 3,593 shares of the company's stock, valued at $1,365,340. The trade was a 49.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.38% of the company's stock.

Trane Technologies Trading Down 0.5%

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

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 analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The company had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. During the same period last year, the business posted $1.94 EPS. Trane Technologies's revenue for the quarter was up 11.2% on a year-over-year basis. On average, research analysts anticipate that Trane Technologies plc will post 12.83 EPS 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 dividend on an annualized basis and a yield of 0.87%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

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.