Fiduciary Trust Co Has $3.90 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Fiduciary Trust Co raised its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,568 shares of the company's stock after purchasing an additional 678 shares during the period. Fiduciary Trust Co's holdings in Trane Technologies were worth $3,903,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its holdings in Trane Technologies by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 59,837 shares of the company's stock valued at $23,260,000 after buying an additional 745 shares during the last quarter. ST Germain D J Co. Inc. boosted its holdings in Trane Technologies by 9.1% in the fourth quarter. ST Germain D J Co. Inc. now owns 4,053 shares of the company's stock worth $1,497,000 after purchasing an additional 337 shares during the period. Hilltop National Bank boosted its holdings in shares of Trane Technologies by 0.7% in the 4th quarter. Hilltop National Bank now owns 6,140 shares of the company's stock valued at $2,268,000 after buying an additional 40 shares during the period. Czech National Bank lifted its holdings in Trane Technologies by 6.1% in the fourth quarter. Czech National Bank now owns 48,790 shares of the company's stock worth $18,021,000 after acquiring an additional 2,819 shares during the last quarter. Finally, Fiduciary Alliance LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $838,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TT. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a research report on Thursday, May 1st. Robert W. Baird raised their target price on Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Royal Bank of Canada upped their price target on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. Hsbc Global Res raised shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Finally, UBS Group cut their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. 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 given a strong buy rating to the company's stock. According to MarketBeat.com, Trane Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $421.07.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider now 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 document filed with the SEC, which is accessible through this link. Company insiders own 0.38% of the company's stock.

Trane Technologies Price Performance

Trane Technologies stock traded up $11.82 during trading hours on Monday, hitting $416.55. 1,922,631 shares of the company traded hands, compared to its average volume of 1,341,277. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $422.00. The firm has a market cap of $92.90 billion, a P/E ratio of 37.03, a P/E/G ratio of 2.50 and a beta of 1.14. The firm's 50-day simple moving average is $351.40 and its two-hundred day simple moving average is $372.31. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data 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 net margin of 12.94% and a return on equity of 35.37%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter last year, the business earned $1.94 earnings per share. The business's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, June 6th. 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.