Trane Technologies plc (NYSE:TT) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its stake in Trane Technologies plc (NYSE:TT - Free Report) by 18.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,275,343 shares of the company's stock after selling 525,281 shares during the quarter. Bank of America Corp DE owned 1.01% of Trane Technologies worth $840,398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Trane Technologies during the 4th quarter valued at about $1,117,816,000. Raymond James Financial Inc. bought a new stake in Trane Technologies in the 4th quarter valued at $611,322,000. Northern Trust Corp grew its position in Trane Technologies by 20.1% during the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after buying an additional 429,953 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $137,999,000. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in Trane Technologies by 455.2% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock valued at $167,977,000 after buying an additional 350,277 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and upped their price objective for the company from $405.00 to $415.00 in a research note on Friday, April 25th. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. 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 report on Friday, January 31st. Finally, 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 note on Thursday, May 1st. One investment 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. Based on data from MarketBeat, Trane Technologies has an average rating of "Moderate Buy" and a consensus price target of $421.07.

Trane Technologies Trading Up 0.8 %

NYSE:TT opened at $402.86 on Tuesday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $422.00. The business has a 50 day moving average price of $345.31 and a two-hundred day moving average price of $371.85. The company has a market cap of $89.84 billion, a P/E ratio of 35.81, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. 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 issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business's quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.94 earnings per share. As a group, analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's payout ratio is currently 31.28%.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 770 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now directly owns 62,221 shares of the company's stock, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the transaction, the senior vice president now directly owns 20,513 shares of the company's stock, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,977 shares of company stock worth $2,577,061. 0.38% of the stock is owned by company insiders.

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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