Truist Financial Corp Acquires 4,507 Shares of Trane Technologies plc (NYSE:TT)

Truist Financial Corp lifted its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 352,225 shares of the company's stock after acquiring an additional 4,507 shares during the quarter. Truist Financial Corp owned 0.15% of Trane Technologies worth $85,908,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TT. JPMorgan Chase & Co. boosted its holdings in Trane Technologies by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company's stock worth $3,466,852,000 after buying an additional 880,583 shares in the last quarter. FMR LLC boosted its holdings in Trane Technologies by 12.4% during the third quarter. FMR LLC now owns 5,743,154 shares of the company's stock worth $1,165,343,000 after buying an additional 632,598 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Trane Technologies by 2.6% during the third quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company's stock worth $821,952,000 after buying an additional 103,823 shares in the last quarter. Morgan Stanley lifted its holdings in Trane Technologies by 0.6% during the third quarter. Morgan Stanley now owns 2,797,382 shares of the company's stock valued at $567,617,000 after purchasing an additional 17,758 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Trane Technologies by 4.3% during the third quarter. Northern Trust Corp now owns 2,522,449 shares of the company's stock valued at $511,830,000 after purchasing an additional 104,653 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

TT has been the topic of several recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the company a "neutral" rating in a report on Monday, February 5th. Stephens raised their price target on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 6th. Barclays raised their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 2nd. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a "sector perform" rating in a research report on Friday, February 2nd. Finally, Citigroup raised their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a "buy" rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $251.83.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the business's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares of the company's stock, valued at approximately $32,589,600.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO David S. Regnery sold 6,990 shares of the business's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the sale, the chief executive officer now directly owns 113,874 shares in the company, valued at approximately $32,589,600.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Keith A. Sultana sold 1,637 shares of the business's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the completion of the sale, the senior vice president now owns 42,374 shares in the company, valued at $11,345,214.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,874 shares of company stock valued at $8,462,825. 0.39% of the stock is owned by company insiders.

Trane Technologies Stock Up 1.7 %

Shares of NYSE:TT traded up $5.16 during trading on Friday, hitting $304.53. 961,790 shares of the company were exchanged, compared to its average volume of 833,800. The stock has a market capitalization of $69.15 billion, a P/E ratio of 34.65, a PEG ratio of 2.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. Trane Technologies plc has a 12-month low of $162.04 and a 12-month high of $306.98. The firm's 50 day moving average price is $292.22 and its 200-day moving average price is $254.57.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.04. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The company's revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.82 EPS. On average, research analysts predict that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.10%. Trane Technologies's dividend payout ratio is currently 38.23%.

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.